No More Equity Loans: How First-Time Buyers Can Navigate the 2025 Property Market

For nearly a decade, Help to Buy was the default route onto the property ladder for buyers without a large deposit behind them. That era has ended: the equity loan scheme is closed to new applicants, and the 2025 market looks very different for those saving for their first home.

The good news? Buying your first property is still entirely achievable. It simply requires a clearer understanding of the process, the alternatives available, and where the delays typically occur. Here is what we tell our own clients at Alan Curtis Legal.

Rethinking the Deposit

Under Help to Buy, a 5% deposit was often enough. Without the equity loan, most lenders now want 10–15%, with the most competitive mortgage rates reserved for those putting down 15% or more.

Practical steps worth taking:

• Check Lifetime ISA eligibility. The 25% government bonus (up to £1,000 per year) remains one of the few meaningful incentives for first-time buyers, though the £450,000 property price cap and withdrawal penalties need careful attention.
• Ask family early. If parents or relatives are gifting deposit money, lenders will require signed declarations and proof of the source of funds. Sorting this out before you apply saves weeks.
• Get an Agreement in Principle before house-hunting, so you know precisely what you can borrow.

The Conveyancing Timeline, Step by Step

A typical transaction takes eight to twelve weeks, though chains can stretch that considerably.

Weeks 1–2: Instructing a solicitor and pre-contract work. Once your offer is accepted, your conveyancer verifies your identity, obtains the title deeds from the seller's side, and issues the contract pack.

Weeks 2–5: Searches and enquiries. Your solicitor will commission local authority, environmental, drainage and water searches, and raise questions with the seller's solicitor — anything from boundary disputes to planning permissions for the extension next door.

Weeks 4–7: Mortgage and survey. Your lender arranges a valuation; a more detailed homebuyer's survey is at your own expense and is strongly recommended for older properties.

Weeks 6–10: Report and contract review. Your conveyancer reports to you on the title, searches and contract terms, flagging anything from restrictive covenants to flying freehold issues.

Final week: Exchange and completion. Once everyone in the chain is ready, contracts are exchanged — making the deal legally binding — and a completion date is fixed. On the day itself, funds transfer and you collect the keys.

Where Deals Fall Apart (and How to Avoid It)

In our experience, most delays are avoidable:

• Instruct your solicitor the same day your offer is accepted — not after the mortgage is approved.
• Respond to document requests within 48 hours. Every day of delay on your side adds to the chain.
• Have your ID, proof of funds and gift letters ready before you even start viewing properties.
• Book your survey and mortgage valuation in parallel, not one after the other.

Shared Ownership: Still Very Much Alive

Unlike Help to Buy, shared ownership continues. You purchase a share of a property (typically 25–75%) from a housing association and pay rent on the remainder, with the option to buy further shares later — known as 'staircasing'.

It is not for everyone: there are rent obligations, lease restrictions and resale conditions. But for buyers priced out of their local area, it remains a genuinely useful route, and the legal review of the lease is where a good conveyancer earns their fee.

Why a Fixed-Fee Conveyancer Beats a Budget Online Service

Cut-price online conveyancing firms often operate high-volume call centres, allocating your file to whoever is free that day. When a chain is moving quickly, you need a named person who knows your transaction and answers the phone.

At Alan Curtis Legal, we offer fixed-fee conveyancing with a dedicated point of contact, clear updates at every stage, and no hidden charges when complications arise. In a post-Help to Buy market where every week of delay carries risk, that continuity is not a luxury — it is what keeps transactions together.

Ready to Start?

If you are saving for your first home, get in touch for a no-obligation quote and an honest assessment of your timeline. The scheme may be gone, but with the right preparation and the right solicitor, the front door of your first home is still well within reach.