First Homes scheme: first-time buyer's guide
How the scheme works
You can look for new homes in your area that are advertised by developers or estate agents through the First Homes scheme.
Developers offer these homes to first-time buyers with at least 30% of the market value taken off the price.
Unlike shared ownership, there’s no rent to pay.
Every home that’s sold is valued by an independent surveyor to make sure the discount is based on actual market value.
New build First Homes cannot cost more £250,000 (or more than £420,000 if the property is in London) after the discount has been applied. The local council can lower this maximum price.
You can decorate or improve your property but if you let or sell your property, you’ll need to follow First Home scheme rules.