Helping First-Time Buyers Get Onto the Property Ladder
The First Homes Scheme is a government-backed initiative designed to help first-time buyers purchase a home in England at a discounted price.
Under the scheme, eligible buyers can purchase selected new-build homes with a discount of at least 30% below market value, making homeownership more affordable for local buyers and key workers.
What Is the First Homes Scheme?
First Homes is a government initiative that offers discounted new-build properties exclusively to eligible first-time buyers in England.
The discount applies to the market value of the property and remains attached to the home permanently. This means that whenever the property is sold in the future, the same percentage discount must also be passed on to the next eligible buyer.
The scheme is available on selected developments across England, subject to availability and local authority approval.
Property Price Limits
Under the scheme, the maximum purchase price after the discount has been applied is:
- £250,000 across England
- £420,000 in Greater London
Some local authorities may apply lower price limits depending on the area.
How the Discount Works
The discount applied when the property is first sold remains in place for all future sales.
For example, if a property is originally sold with a 30% discount, every future eligible buyer will also receive a 30% discount based on the property’s market value at the time of resale.
This helps ensure homes remain affordable for future generations of first-time buyers.
Who Is Eligible for First Homes?
To qualify for the First Homes Scheme, buyers must meet specific national and local eligibility requirements.
General Eligibility Criteria
You may be eligible if:
- You are a first-time buyer
- If purchasing jointly, all buyers must be first-time buyers
- Your combined household income does not exceed:
- £80,000 per year in England
- £90,000 per year in Greater London
- You can secure a mortgage for at least 50% of the discounted purchase price
- The property will be your main and only residence
Local Authority Requirements
Some local councils may introduce additional eligibility criteria, including:
- Lower household income limits
- A local connection to the area
- Priority for key workers such as NHS staff, teachers or emergency service workers
Eligibility requirements can vary depending on the local authority and development.
Why Choose First Homes?
The scheme offers several benefits for first-time buyers, including:
- A significant discount on the purchase price
- Lower mortgage borrowing requirements
- Reduced deposit costs
- Access to selected new-build homes
- Long-term affordability for future buyers
First Homes is designed to make owning a home more achievable for people struggling to buy on the open market.
Important Information
The First Homes Scheme is subject to:
- Availability
- Status and eligibility checks
- National and local authority criteria
- Developer participation
- Terms and conditions
Not all developments offer First Homes properties, so availability may vary by location.
Looking for First Homes Properties?
If you’re ready to take your first step onto the property ladder, explore available First Homes developments in your area and discover how much you could save with this government-backed scheme.
