What is the Your First Home scheme?

The Your First Home scheme is a new government initiative designed to help more first-time buyers get onto the property ladder.

Expected to open for applications in February 2027, the scheme will help eligible buyers purchase a new-build home in England with a smaller deposit and a government-backed equity loan.

Under the scheme, eligible buyers will be able to purchase a home using:

• A deposit of just 2.5% of the purchase price.

• A government equity loan worth 20% of the purchase price.

• A repayment mortgage from a participating lender to cover the remaining amount.

The government equity loan will be interest-free for the first five years, helping to reduce the initial cost of buying a home.

Unlike Shared Ownership, you will own your home outright from completion. The government will not become a joint owner or your landlord.

Who is eligible for the Your First Home scheme?

The scheme is aimed at first-time buyers in England who would otherwise struggle to afford a home.

The main eligibility requirements include:

• You must be a first-time buyer.

• You must be purchasing a qualifying new-build property in England.

• The property must be your main residence.

• Your household income must be £110,000 or less outside London, or £140,000 or less in London.

• You must be able to obtain a mortgage from a participating lender.

• The property must fall within the relevant local price cap.

Further eligibility requirements and full scheme guidance will be published by the government before applications open.

How much deposit do I need for the Your First Home scheme?

One of the main benefits of the scheme is the reduced deposit requirement.

Eligible buyers will be able to purchase a property with a deposit of just 2.5% of the purchase price.

For example, if you were buying a qualifying new-build home for £300,000, the funding could look like this:

• Your deposit: £7,500 (2.5%)

• Government equity loan: £60,000 (20%)

• Mortgage: £232,500 (77.5%)

This could make buying a home more accessible for people who have a regular income but have struggled to save a larger deposit.

The actual amount you can borrow will depend on affordability checks, lender criteria and the scheme’s property price limits.

When does the Your First Home scheme launch?

The government expects the Your First Home scheme to open for applications in February 2027.

Pre-registration is expected to open before the end of December 2026, allowing prospective buyers to find out more about the scheme and the eligibility requirements.

The first property sales using the scheme are anticipated from April 2027.

If you’re hoping to buy your first home, it’s worth researching the scheme now and keeping an eye on new-build developments in your preferred area.

Can I use the Your First Home scheme to buy any property?

No. The scheme is specifically designed for eligible new-build homes in England.

You cannot use it to purchase an existing second-hand property or a resale home.

The property must also meet the relevant local price cap, and the housebuilder must be participating in the government scheme.

This means that not every new-build development will necessarily qualify.

Where can I find new-build homes available through the Your First Home scheme?

Finding the right property is an important part of the process.

At MovingSoon, we’re working towards helping prospective first-time buyers discover new-build homes being advertised by participating housebuilders.

You can explore properties, compare locations and find developments that may be suitable for your circumstances.

As the scheme gets closer to launching, we’ll be looking to add more participating developments and available homes to our website.

Remember to check the individual property details and confirm eligibility with the housebuilder before making any decisions.

Are there other affordable homeownership schemes for first-time buyers?

Yes. Your First Home isn’t the only option available if you’re looking to buy your first property.

Other affordable homeownership options include:

Shared Ownership

Shared Ownership allows you to purchase a share of a property and pay rent on the remaining share. It can be a useful option if you cannot afford to buy a property outright.

Find out more about Shared Ownership – Part Buy Part Rent.

First Homes scheme

The original First Homes scheme is a separate government initiative offering eligible first-time buyers a discount of at least 30% on the market value of certain properties. Local eligibility criteria may also apply.

Rent to Buy

Rent to Buy allows eligible tenants to rent a property at a reduced rent, helping them save towards a deposit to purchase a home in the future.

Find out more about Rent to Buy.

It’s worth exploring the different options to see which might be suitable for your financial circumstances and homeownership plans.

Are you a housebuilder offering homes through the Your First Home scheme?

Advertise your eligible new-build homes on MovingSoon for FREE throughout 2027.

We’re inviting housebuilders participating in the Your First Home scheme to list their available properties on MovingSoon, helping prospective first-time buyers discover developments and homes in their area.

Whether you’re advertising an entire development or just a handful of available properties, we’re offering free listings throughout 2027.

Your listing can include:

• Property descriptions and photographs.

• Location and development details.

• Key features and property information.

• Links directly to your own website and enquiry forms.

MovingSoon provides an additional route to reach prospective buyers, working alongside your existing website, marketing and property portals.

Interested in listing your homes?

Get in touch with MovingSoon to find out more about our free housebuilder listings for 2027.