First homes scheme
If you’re a first-time buyer, you may be able to buy a home for 30% to 50% less than its market value. The home must be your only or main residence.
This offer is called the First Homes scheme.
The home can be:
- a new home built by a developer
- a home you buy through an estate agent, which someone else bought before through the scheme
- The First Homes scheme is only available in England
Am I eligible for a First Homes scheme?
You must:
- be 18 or older
- be a first-time buyer
- be able to get a mortgage for at least half the price of the home
- not earn more than £80,000 a year before tax (£90,000 if the property is in London) - this is your income from the previous tax year
If you’re buying with others:
- you must all be first-time buyers
- you must apply together, even if you’re not all getting a mortgage
- your joint income cannot be more than £80,000 a year before tax
Your joint income is the total of what you all earned in the previous tax year.
For more information please visit First Homes scheme: first-time buyer's guide GOV.UK.