28/09/2026
A brand-new scheme called Your First Home has just been announced — and it could mean getting onto the property ladder with a deposit of just 2.5%. 📣🏡💙
So, what do we actually know so far? 👇
Your First Home is a new government-backed equity loan scheme designed specifically to help first-time buyers purchase a new-build home.
💰 How could it help?
Buyers are expected to be able to purchase with just a 2.5% deposit, with the government providing an equity loan of up to 20% of the property price.
There will also be an initial interest-free period on the equity loan, which could reduce monthly housing costs by hundreds of pounds compared with taking out a 95% mortgage.
👤 Who could use it?
The scheme is aimed at first-time buyers in England, particularly those who don’t have access to a large deposit or financial help from family.
It will apply to new-build properties purchased from developers who sign up to the scheme.
There will also be household income limits and local property price caps, although we don’t have the final figures yet.
📅 When will we know the full details?
This is the important bit…
The scheme has been announced, but the full details — including the income and property price limits, costs and implementation timetable — are due to be confirmed by the Chancellor at the October Budget.
⚠️ There is a lot we DON’T know yet.
The headline numbers sound significant, but the impact will depend on things like the final property price caps, income limits, how the equity loan is repaid and exactly when the scheme launches.
So if you’re hoping to buy your first home, watch this space. 👀
📞 01743 623773
Let’s get you home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances.
