Help to buy schemes - very confused

Hi and I hope you can help to put me straight.

I'm 29, living at home (no rent/bills) and looking to purchase (FTB) within about a year - likely in 2014. I earn around 25k and have built a good deposit of around 55k. I'm therefore looking at houses for around 160 ish.

I keep reading about these new government schemes but can't find exactly the information I require.

I understand there is a Help to Buy Equity Loan but this is not what I want because I'm not looking at new builds.

There is also 'Shared Ownership' schemes - for some reason I don't like the sound of these. Are they any good for my situation?

I understand there is a Help to Buy Mortgage Guarantee but can't find that much information on this - set to come in the new year which may be good timing.


My question is (although the details are not yet known) are these a good idea or generally best avoided if you don't have to if you already have a good deposit?

I find them very confusing. It is essentially just a loan isn't it but are they better than a full mortgage?

Thank you.