end of the five years, a charge is levied on the outstanding 20pc of equity, of 1.75pc per annum in year six, uprated thereafter by the retail prices index plus 1 percentage point. It is worth remembering that, if inflation remains high, this charge could amount to significant interest. Nevertheless, if typical first -- time buyers are paying 200,000, with First Buy they might have to find a deposit of around 8,000 and a mortgage of 152,000, with the remainder covered by the sharedequity loan. If after five years the price of the property had risen to, say, 210,000, the Government and the developer take back 20pc or 42,000. The scheme is not universally available, but designed for first -- time buyers, with special priority given to Armed Forces personnel and those coming out of social housing. Household incomes must also be less than 60,000 to qualify. If you don't qualify for First Buy, some developers offer their own shared -- equity arrangements on certain developments whereby they put up 15pc of the price, while you must find 85pc of the valuation. The outstanding 15pc of equity may be free for either five or 10 years, depending on the scheme, after which it must be repaid either by remortgaging or by selling up. For existing home owners, most developers also offer a part -- exchange scheme, by which they buy your existing property from you. This can provide valuable assistance when the market is flat. Provided that your home is