Guide · England · First-time buyers
Announced on 26 September 2026 and confirmed at the Budget on 28 October 2026, Your First Homeis a new equity loan scheme for first-time buyers of new-build homes in England. This page sticks to what GOV.UK has published.
Last updated 2 November 2026. Updated with the details confirmed at the Budget on 28 October 2026. Full eligibility rules are due before applications open.
Not financial or mortgage advice. Always check the GOV.UK scheme details and speak to a qualified mortgage adviser before you commit.
These are the examples GOV.UK gives; the full list by local authority area is still to be published.
| Area | Property price cap |
|---|---|
| Reading | £375,000 |
| North Devon | £320,000 |
| Manchester | £355,000 |
| Middlesbrough | £220,000 |
| Inner London (London Plan 2021) | £650,000 |
| Outer London (London Plan 2021) | £500,000 |
Sources: GOV.UK — Your First Home (28 October 2026), Budget 2026 document and the original GOV.UK — New first-time buyer scheme to be confirmed at Budget (MHCLG, 26 September 2026).
The full list of price caps by local authority, participating developers and lenders, full eligibility rules and repayment guidance are all due before applications open. We will not guess any of them. For the rest of the Budget, see what the 28 October 2026 Budget changed for people building or extending a home.
Your First Home is for new-builds bought from participating developers, so a self-build you commission yourself is not covered. The Budget did not change that.
If you are self-building instead, ConstructionPro.io can help you keep track of your own build budget — what you planned, what you have committed and what you have spent.
A £4.7 billion equity loan scheme for first-time buyers of new-build homes in England, announced on 26 September 2026 and confirmed at the Budget on 28 October 2026.
First-time buyers purchasing a new-build home in England, within the local price cap, from a developer that has signed up to the scheme, with household income of £110,000 or less (£140,000 or less in London).
A deposit of at least 2.5% and a 20% government equity loan, interest free for the first five years.
Caps are set by local authority area based on median prices, with £650,000 for inner London and £500,000 for outer London. The government says the full list will be published shortly.
Pre-registration opens by the end of December 2026, full applications from February 2027 and the first property sales under the scheme are due from April 2027.
No. It is for new-builds bought from participating developers, so a self-build you commission yourself is not covered.
Yes. Developers sign a participation agreement and pay a fee on the sale price of each home sold through the scheme: 1% on the first 100 homes a year, 3% on homes 101 to 250 and 4% above 250.
Related: UK market overview.