First-time buyer schemes: which could help you?
Answer a few quick questions to see which government schemes might suit you, with your own figures.
Schemes that might suit you
Answer the questions to see which schemes might suit you.
Your First Home, the new 2.5% deposit scheme, is for England only.
What each one is, your figures, the catches, and where to find homes.
Your schemes
You don’t need a scheme to buy a home. Most people buy with a deposit and a mortgage.
Dates to remember
Doesn’t match your answers
Not advice, and it doesn’t confirm you can use a scheme: the seller, builder or scheme checks all the rules. Rules checked 29 October 2026.
Questions about first-time buyer schemes
Quick answers to what buyers ask most.
Where our rules come from
- GOV.UK: Your First Home (published 28 October 2026), shared ownership and First Homes.
- GOV.WALES: Help to Buy – Wales and its buyers’ guide, and Shared Ownership – Wales.
- Homes England’s Capital Funding Guide, on how sellers check affordability for shared ownership.
- MoneyHelper on Lifetime ISAs.
- All checked 29 October 2026.
What first-time buyer schemes are there?
In England: Your First Home (opening in 2027) and shared ownership. In Wales: Help to Buy – Wales (until 31 March 2027) and Shared Ownership – Wales. Help to Buy has closed in England, and very few First Homes are built now.
What is the Your First Home scheme?
A government scheme for first-time buyers of new-build homes in England. You put down a 2.5% deposit, the government lends you 20% of the price, and a mortgage covers the rest. On a £300,000 home, that’s a £7,500 deposit, a £60,000 loan and a £232,500 mortgage.
It’s for household incomes of £110,000 or less (£140,000 in London), and each area has a price cap.
When does the 2.5% deposit scheme start?
Pre-registration (signing up early) is due to open by the end of December 2026. Applications are expected in February 2027, and the first homes should be sold in April 2027.
Is Your First Home available in Wales?
No, it’s for England only. In Wales, look at Help to Buy – Wales (apply by 31 March 2027) and Shared Ownership – Wales.
How does the Your First Home loan work?
It’s interest-free for 5 years. Then you pay interest of 1.5% in year 6 and 3% from year 7, separately from your mortgage. When you sell, you repay 20% of what the home is worth then, so if prices rise, you repay more. Full details are due before it opens.
What are the Your First Home price caps?
Each area has its own. London’s are £650,000 in inner London and £500,000 in outer London. Others announced so far include Reading £375,000, Manchester £355,000, North Devon £320,000 and Middlesbrough £220,000. The full list is due soon.
How do I show I can’t afford a home without shared ownership?
You don’t prove it yourself. Before you buy, the seller has a mortgage adviser look at your income, savings and spending. In England it’s usually free, and you don’t have to take a mortgage through them.
If you could afford a home that meets your needs without the scheme, it isn’t for you.
Can I use these schemes on any home?
No. Each one only covers homes sold through it. Your First Home and Help to Buy – Wales are for new builds from builders taking part. Shared ownership homes are sold by housing associations and builders, or resold by people who own them this way.
If you have a long-term disability, there’s a separate shared ownership route (HOLD) to a home that meets your needs. This page doesn’t cover it.
What is First Homes?
A scheme in England where you buy a new home for 30% to 50% less than its market value. It still exists, but very few are built now, because councils no longer have to offer them. So we don’t include it in your results.
If you see one advertised, it’s for first-time buyers with household incomes of £80,000 or less (£90,000 in London). A new one can’t cost more than £250,000 after the discount (£420,000 in London). When you sell, it must be sold as a First Home at the same discount. The developer or estate agent selling it can tell you more.
When does Help to Buy – Wales end?
Applications must be in by 31 March 2027. It lends up to 20% of the price of a new-build home up to £300,000, with a 5% deposit, and it’s open to people moving home as well as first-time buyers.
Is Help to Buy still available in England?
No, it closed to new applications. Your First Home is the new scheme for first-time buyers of new-build homes in England.
Can I use a Lifetime ISA with these schemes?
Yes, with schemes such as shared ownership. It can go towards your deposit. Your First Home’s full rules aren’t out yet, so it isn’t confirmed for that one.
What doesn’t this cover?
Scotland and Northern Ireland, Right to Buy, Rent to Buy, Older Persons Shared Ownership, and help for disabled buyers (HOLD). It also can’t do a seller’s own checks, such as affordability.