The Open Market HomeBuy Scheme 

The scheme is a new Government-led initiative set up to help Key Workers (e.g. teachers, police officers, social workers, clinical NHS staff), social housing tenants, priority groups on a housing register and certain priority first time buyers borrow money to get onto the property ladder. If you fall into one of these groups this scheme could help you.

The scheme is designed to help you to buy a home on the open market with the aid of an equity loan. If you are eligible for the scheme and have found that a standard mortgage does not allow you to borrow enough to purchase a home,  the inclusion of an equity loan could increase your overall purchasing power. This would mean that at the outset you would only need income to support a proportion of the overall mortgage.

Mortgages for the scheme are provided by a small number of mortgage lenders, including Yorkshire Building Society in conjunction with Government-appointed HomeBuy Agents who manage the money that the Government put into the scheme.