GOVERN MENT SUPPORT SCHEMES If the trend continues, a large portion of generation rent will be living in expensive private rent home solely based on the inadequate pension, which can be a very troublesome situation for the government. The government issued many schemes to help new buyers": 1. Help to Buy Equity Loan: The scheme requires a minimum 5% deposit of the property value with the Government offering an interest-free loan of a further 20%. The remaining ?5% is covered by a standard mortgage. By theoretically allowing buyers to purchase a property with a 75% mortgage, the cost would be lower than a 95% mortgage. The Help to Buy Equity Loan is only available on new-build properties in England worth up to 600,000. 2. Help to Buy ISA: The scheme is designed to boost first-time buyers' savings pots: for every 200 saved into the account, the Government will add 50. This is up to a maximum bonus of 3,000 (which applies to 12,000 of savings}. There are other limitations too, such as a 250,000 price cap on property, although this rises to 450,000 in London. 3. Lifetime ISA: The scheme offers a tax-free boost of up to 1,000 a year