Help to Buy NI 2026: What Buyers Actually Get

"Help to Buy" is one of the most-searched phrases in UK property and one of the most misunderstood in Northern Ireland. The famous English Help to Buy Equity Loan scheme — the one your friend in Manchester used to get on the ladder — closed to new applications in October 2022 and has since wound down. It applied to England, not Northern Ireland.

So when a Derry buyer asks "can I use Help to Buy?" the honest answer is: not the scheme you're thinking of. But there are real, useful schemes available in NI in 2026, and most first-time buyers don't know all of them. This guide is an honest map of what actually exists, who it's for, and what the worked numbers look like.

What does NOT exist for NI buyers

Quick clearing-up first, because it saves a lot of confusion later.

* No Help to Buy Equity Loan. The English government scheme that gave you a 20% (or 40% in London) interest-free equity loan on a new build — never available in NI, and now closed in England too.

* No Help to Buy ISA. Closed to new applicants in November 2019. If you already have one, you can keep paying into it until November 2029 and claim the bonus until November 2030 — but you can't open a new one.

* No First Homes scheme. That's an England-only scheme offering 30-50% discounts on new builds to local first-time buyers. Doesn't apply here.

If a developer or broker is pitching you "Help to Buy" in NI in 2026, ask them precisely which scheme they mean. The answer will usually be a developer-specific deposit-deferral product, not a government scheme. More on those below.

Co-Ownership Northern Ireland — the actual flagship scheme

NI's long-running shared-ownership scheme is run by Co-Ownership Housing, a not-for-profit based in Belfast. It is the closest thing NI has to a "Help to Buy" equivalent, and it's been quietly helping people onto the ladder here since 1978.

How it works:

* You buy between 50% and 90% of a property

* Co-Ownership owns the rest

* You take a normal mortgage on your share, plus a deposit

* You pay a subsidised rent on the share you don't own (currently around 2.5% per year of Co-Ownership's share, but check the current figure)

* You can buy more (called "staircasing") later, up to 100%

The maximum property value is reviewed periodically. From 14 April 2026, the Co-Ownership property value limit is £215,000. Confirm the current figure on coownership.org before you plan around it, because this is exactly the kind of threshold that can move.

Who Co-Ownership suits

* First-time buyers whose borrowing capacity falls a bit short of the home they actually want

* Buyers with smaller deposits (you'll typically need 5-10% of your share, not the whole property)

* People who want to stop renting and start owning, even if they can't yet afford 100%

* Buyers in the £130,000-£215,000 property range — which covers a lot of Derry first-home stock

Worked example

A couple looking at a £170,000 home in Derry, with £15,000 saved and £45,000 joint income. On a standard mortgage, lenders would offer roughly £180,000-£200,000 — borderline for the property, deposit tight.

Through Co-Ownership at 70% share:

* Property: £170,000 — their share (70%) £119,000

* Their deposit (10% of share): £11,900

* Their mortgage: £107,100 — comfortably within affordability

* Co-Ownership's share (30%): £51,000 — rent roughly £105/month

Total monthly cost = mortgage + £105 rent. The maths usually works out broadly comparable to renting, with the upside of building equity and the option to staircase to full ownership later.

The Lifetime ISA (LISA) — a quiet 25% bonus

Available across the UK including NI, the Lifetime ISA is one of the best deals in personal finance for first-time buyers — and a surprising number of people don't know it exists.

How it works:

* Open it between ages 18 and 39

* Pay in up to £4,000 per tax year

* The government adds a 25% bonus on top — so up to £1,000 a year free

* Use the money for a first home (up to a £450,000 property value) or wait until age 60 for retirement use

* Withdraw for any other reason and you lose 25% — which means you lose more than the bonus you got, so don't open one if you might need the money for anything else

A buyer who opens a LISA at 25 and pays in £4,000 a year for 5 years contributes £20,000 and has £25,000+ to put towards a deposit (plus growth, depending on whether it's cash or stocks-and-shares).

Two LISAs in a couple = up to £2,000/year of free deposit money. Genuinely worth doing if you're more than 12 months from buying — you need a LISA open for at least 12 months before using the bonus.

First-time buyer Stamp Duty Land Tax relief

Available across the UK including NI:

* First-time buyers pay no SDLT on homes up to £300,000

* Reduced rate on the portion between £300,000 and £500,000

* Above £500,000 you lose the relief entirely (you pay standard rates on the whole purchase)

For most Derry first-time buyers — where typical first-home prices sit between £130,000 and £180,000 — this means zero stamp duty. Worth knowing about, but rarely the deciding factor.

If you're stretching towards the £300,000 mark, watch the cliff edge carefully. £301,000 is taxed differently to £299,999 in a way that catches buyers out.

NIHE-related and rent-to-own pilots

The Northern Ireland Housing Executive runs a few additional schemes worth being aware of:

* House Sales Scheme — NIHE and housing association tenants may be able to buy their home at a discount based on tenancy length. Eligibility is specific and the property must qualify.

* Rent to Own pilots — small-scale schemes in specific developments let tenants put part of rent towards a future deposit. Limited coverage in Derry currently.

* FairShare — a Co-Ownership product for lower-income buyers, smaller starting share (from 50%).

These don't apply to most private buyers but are worth checking if you're an existing social tenant.

The developer "help" schemes — be careful

Several Derry-area new-build developers market their own "Help to Buy" or "deposit help" schemes. Read the small print every time. Common patterns:

* Deposit deferral. The developer "lends" you part of your deposit, repayable on completion or within a year. Cheap if you genuinely have cash arriving on a defined date — expensive if not.

* Part-exchange. The developer takes your existing home at a price they've set, usually 5-10% below open-market value. Sometimes worth it for the certainty, often not.

* "Cashback" or "stamp duty paid" deals. Often built into the price of the new home rather than a real saving. Compare with a similar resale property before assuming value.

* Year-1 mortgage subsidy. Useful if you need breathing room — but the property is usually priced to absorb the cost, and you pay full price from year 2.

Rule of thumb: if the "help" comes from the seller, it's part of the sales pitch. Ask what the cash price is without the scheme. If lower, you're paying for the help one way or another.

What we'd recommend most first-time NI buyers actually do

A short playbook for a typical first-time buyer in the Derry catchment in 2026:

1. Open a LISA if you're more than 12 months from buying and under 40. Free money.

2. Save aggressively for 12-24 months. Aim for 10% of target property as the sweet spot.

3. Get an AIP before viewing anything. Use a whole-of-market broker.

4. If the maths is tight, run the Co-Ownership numbers. For many Derry buyers it's the difference between buying now and buying in three years.

5. Confirm your SDLT position with your solicitor — for most Derry first-timers, it's zero.

6. Be sceptical of developer "help" schemes. Sales tools first, help second.

Final thought

There is genuine help available to first-time buyers in Northern Ireland in 2026, but it doesn't come in the form most people are searching for. Co-Ownership, the LISA bonus and SDLT relief between them shift the maths meaningfully for a typical Derry buyer — sometimes by tens of thousands of pounds over the life of the purchase. Knowing which ones you qualify for, and stacking them properly, is the actual game.

If you'd like a straight conversation about which of these schemes apply to your situation and what they'd mean for the homes you're considering in Derry, talk to James Gorman Property. For the wider first-home walkthrough, our first-time buyer Derry guide is the deeper companion piece.