Saving a deposit for your first home is often one of the biggest challenges to stepping onto the property ladder. However, the proposed Your First Home scheme could offer a more accessible route to homeownership, with a smaller deposit and a government-backed equity loan to help you take that first step.
From understanding how the scheme could work to exploring the advantages of buying a new home or apartment, discover what you need to know as you prepare to start your homebuying journey.
Key takeaways
- Your First Home could help eligible first-time buyers purchase a new build with a 2.5% deposit and a government-backed equity loan of up to 20%.
- Review your finances, understand your budget and explore Countryside Homes developments while the scheme’s final details are confirmed.
- Further details are expected at the Autumn Budget on 28 October 2026, so keep an eye out for updates on eligibility, property-price caps and repayment terms.
What is the Your First Home scheme?
Your First Home is a proposed government-backed equity loan scheme intended to help first-time buyers in England buy a qualifying new build property. By contributing towards the purchase price, this first-time buyer scheme aims to reduce the deposit you need to save before you can think about buying a Countryside home.
Under the proposals announced so far, eligible buyers could purchase a new build home with a deposit starting from 2.5%, supported by a government equity loan of up to 20% of the property's purchase price. A mortgage would cover the remaining balance, subject to the lender's affordability criteria.
How much could you borrow with Your First Home?
How much you could borrow as part of this buying scheme will depend on your income, regular outgoings, credit history and the mortgage lender’s affordability assessment. Before choosing a new home or apartment, speak to a qualified mortgage adviser to understand your borrowing capacity and the price range that could work for you.
It’s also important to look beyond the initial purchase price when setting your budget, especially as legal fees, moving expenses, council tax, insurance and household bills will all contribute to the cost of owning your home. If you're considering a new build apartment in London, remember to factor in any applicable service charges and other property-related fees, too, so you have a clear picture of the ongoing costs.
When will the Your First Home scheme launch?
Further details about the Your First Home scheme are expected around the Autumn Budget on 28 October 2026. This announcement is expected to clarify outstanding details, including eligibility requirements, local property-price caps and the arrangements for repaying the government loan.
Until final rules are published, it won’t be possible to find out if you or a property you’re interested in will qualify. In the meantime, you can explore our range of new build developments for sale and speak to our sales consultants about new homes available in your preferred location.
How can you prepare for buying your first home?
While the scheme's final details are due to be revealed in the Budget on 28 October 2026, you can start preparing by reviewing your finances, speaking to a mortgage adviser and deciding what matters most to you in your search for a new home. You might be looking for a contemporary London apartment close to excellent transport links, a thoughtfully designed space with room to entertain friends, or a new build home that gives you more space to settle into the next chapter of your life.
It can also help to explore our new build developments and register your interest to receive relevant updates. Once Your First Home’s requirements are confirmed, you'll be better placed to understand your options and find a Countryside home that suits you, your priorities and plans for the future.
Important information: Your First Home remains subject to official confirmation. Eligibility requirements, property-price caps, income thresholds, repayment arrangements and launch details may change. Check the final government guidance before making financial decisions based on the proposed scheme.
Frequently Asked Questions
Can I use Your First Home to buy an apartment?
Yes, Your First Home is intended to cover qualifying new build properties in England, including apartments.
Will I need to meet income requirements for Your First Home?
Yes, income thresholds are expected to form part of the eligibility criteria, however, the exact limits and how they are assessed are yet to be confirmed.
Can Your First Home help if you don't have the Bank of Mum and Dad?
Yes, the proposed Your First Home scheme is intended to support first-time buyers who may struggle to save a deposit without financial help from family.
What can I do if I don't qualify for Your First Home?
You can still explore other ways to buy, depending on your circumstances and the options available at your chosen development. Speak to our sales team about current buying schemes and discuss your mortgage options with a qualified adviser.
