Help to Buy is a government scheme that helps first-time homeowners move up on the property ladder. The scheme is specifically so that individuals can build the types of houses they desire. First-time homeowners can build a new home within their budget and one that accommodates the size of their household. The problem is many homeowners in the UK don’t have a large deposit saved. A large deposit would assist prospective homeowners to buy a newly built home or start building their own home. This is where the Help to Buy scheme comes into play. Based on the terms of the scheme, you can only use Help to Buy to purchase a residential property. Individuals can buy a new home under the Help to Buy scheme but they can only buy and own one. Their current house will have to be sold prior purchasing a house with the Help to Buy scheme. In this scheme, you can’t purchase a buy-to-let property and rent out your current property as well. The only types of houses you can buy on the Help to Buy scheme are newly built houses. The houses must be built by housing providers registered under the Help to Buy scheme. Moreover, the property must be brand new. Any property that falls into the category of a residence may qualify for the Help to Buy scheme. However, it must not be a property bought or built as a residence. For this reason, apartment complexes and the like do not qualify for the Help to Buy scheme. Lastly, if the property was a non-residential but was converted to a residential property, it may qualify to the scheme. In that case, you may buy this property using Help to Buy.