Your first home starts with the right advice. Whether you’re saving for a deposit, exploring your options or ready to start viewing, our new homes specialists can help you take the next step.  Explore practical buying guides, learn about schemes and incentives, and discover new homes to suit your budget and preferred location. 

Your First Home is a government equity loan scheme for eligible first-time buyers purchasing new-build homes in England from participating developers. Applications are expected to open in February 2027, with first property sales in April 2027. Government customer pre-registration is due before the end of December 2026. 

Buyers will need a deposit of at least 2.5%, a repayment mortgage from a participating lender and a government equity loan worth 20% of the purchase price. With a 2.5% deposit, the mortgage would cover the remaining 77.5%. The equity loan is interest-free for five years; interest is 1.5% in year six and 3% from year seven. Interest payments do not reduce the equity loan balance. 

Annual household income must normally be £110,000 or less outside London, or £140,000 or less in London. Buyers must use the property as their main home and qualify for a participating lender’s mortgage.  

Local property price caps apply. 

• Inner London’s cap is £650,000 and outer London’s is £500,000, using London Plan 2021 definitions.  

• Published local examples are Reading £375,000, North Devon £320,000, Manchester £355,000 and Middlesbrough £220,000. These are examples, not a complete list; the full local authority caps will be published shortly. 

The equity loan must be repaid, normally when the property is sold, although earlier partial or full repayment will be possible. Repayment is normally 20% of the home’s value at repayment, so the amount can rise or fall. Full repayment rules, valuation requirements and any fees are still to be published. Buyers should obtain independent financial and legal advice. 

Read the government guidance

What could Your First Home mean for you? Lori from Savills explains the deposit and equity loan, who the scheme is designed for and the next steps for first-time buyers. 

Watch our short video, then register for updates from your local New Homes team as further guidance is announced. 

Looking for support with your first move? Speak to our new homes team about any buying schemes or developer incentives available at the developments you’re considering.  Availability and eligibility vary by development, property and buyer circumstances. Ask for the full terms of any offer and discuss its implications with your mortgage adviser and solicitor before committing.
Incentives in detail

From planning your deposit and understanding the buying process to choosing your first new home, explore practical guides, research and advice to help you prepare.