If you are a first time buyer in England, you could buy a brand new home with a minimum 30% discount against the market value of the property.
First Homes is a new scheme run by the Government with the aim of helping local first-time buyers and key workers own their own home in the area they live and work.
In order to take part in the scheme, you must be a first-time buyer who, does not own, or has not previously owned a property. If you are purchasing your home with someone else, you must both be first-time buyers and your combined annual household income cannot exceed £80,000 (or £90,000 in Greater London). The home you purchase must also be your main residence and not a buy-to-let property and you must take out a mortgage or home purchase plan covering at least 50% of the discounted property purchase price.
On the first sale of a First Homes property, the First Home must have a purchase price of no higher than £250,000 (£420,000 in Greater London) after the discount has been applied (please note the price cap may be subject to change in line with government guidance).
Here's some examples of how the First Homes scheme could work:
Based on a £320,000 market value price
Purchase price with 30% discount £224,000
5% Deposit £11,200
I'm interested, what do I do next?
Our First Homes plots will be allocated on each development and will only be available on specific developments. To find out more, please speak to our Development Sales Managers who can put you in touch with one of our recommended independent financial advisers.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT
*First Homes is subject to availability, status and eligibility including eligibility criteria of each local authority and therefore terms may vary between development sites. All purchasers must be first-time buyers and the combined household income should not exceed £80,000 for the year preceding the year of purchase (£90,000 in Greater London). Your mortgage must be at least 50% of the purchase price. Your mortgage must be capital repayment. The property must be the sole residence of all purchasers. The scheme is not available for buy-to-let properties. You cannot apply to other Government shared equity schemes (e.g. Help to Buy) while also using this scheme. If you have an open application to any other shared equity scheme you must withdraw this before you purchase a First Homes property. However you are able to use a Help to Buy: ISA or Lifetime ISA to put towards your deposit. The minimum discount on a property must be at least 30% against the market value. The property price must be no higher than £250,000 after the discount has been applied (£420,000 in Greater London). On the first sale of a First Homes property, the First Home must have a purchase price of no higher than £250,000 (£420,000 in Greater London) after the discount has been applied (please note the price cap may be subject to change in line with government guidance).
First Homes cannot be used in conjunction with any other offer.
Please note the intention of the First Homes scheme is to retain the discount market price for all future sales. Therefore, on a resale of a first home, the seller is likely to be required to sell the First Home on the same terms as it was acquired (subject to certain exceptions) to preserve the discounted sale price.
Now find your new home
Now find your new home
Be first to know! Register or login now so you don't miss out on priority email alerts, exclusive offers and more!
- Save your amazing homes and developments
- Use our app to help find your new home
- Exclusive alerts about new homes and offers
- Plus, pre-reserve your new home online