First Homes scheme: first-time buyer's guide
If your application is approved
The council will issue a certificate that shows you can be a First Homes owner.
Exchanging contracts
You need to pay your deposit at the same time as you exchange contracts with the developer or seller. After you do this, you are legally committed to buying the home.
Fraudsters sometimes pretend to be conveyancers when deposits are due. You can find advice on how to avoid scams on the Take Five website.
Check with your conveyancer before you agree to exchange contracts. You should tell them if your circumstances have changed and you no longer meet the First Homes eligibility criteria.
When you’ve exchanged contracts, the developer will set a completion date or your conveyancer will agree one with you and the seller. This is the date when the home will be ready for you to move in.
Completing the purchase
On the completion date, your conveyancer transfers the remaining money to buy the property to the seller’s solicitor, you get the keys and can move in.
Paying stamp duty
The amount of Stamp Duty Land Tax you pay is based on how much you paid for your home after the discount was applied.