Your First Home scheme | Ways to move | Countryside Homes

Your First Home scheme for first-time buyers

How will Your First Home Work?

Your First Home is an exciting new equity loan scheme from the government. It’s designed to make getting on to the property ladder more affordable for first-time buyers in England.

The scheme will allow eligible first-time buyers to get the keys to a new Countryside home with just a 2.5% deposit. This is then supported by a 20% government equity loan that's interest-free for the first five years, which will help to keep costs down.

The remaining 77.5% will be covered by a repayment mortgage from a participating lender.

The scheme is due to open for applications in February 2027, with the first property sales expected from April 2027. You can learn more about the scheme here.

How could Your First Home help?

If you were buying a new home for £300,000, for example, here’s how you could fund your purchase:

£7,500 deposit (2.5%)
£60,000 government equity loan (20%)
£232,500 repayment mortgage (77.5%).

By comparison, someone buying the same £300,000 home with a standard 95% mortgage would typically need a £15,000 deposit and £285,000 mortgage.

Your home will be yours from the day you complete on your purchase. This is not a shared ownerships scheme and the government won’t act as your landlord.

You’ll own your home from the day you complete your purchase. The government will not be a joint owner or your landlord.

Who can use Your First Home?

To be eligible to use the scheme, you’ll have to:

Be buying your first home
Choose a qualifying new-build home in England
Live in the property as your main home
Have a total household income no higher than £110,000 a year outside London, or £140,000 in London
Qualify for a mortgage with a participating lender

Property price caps will also apply depending on where you’re buying, with a full list of local authority price caps expected to be published shortly. Full eligibility rules will be confirmed before applications open.

How to apply

Although applications aren’t open yet, you can register your interest on your development of choice. We’ll make sure you are among the first to hear about Countryside homes available through Your First Home and receive updates as more information becomes available.

Pre-registration for the scheme will open before the end of the year. There’s no commitment to buy, but you’ll receive more information about whether you’re eligible and the property price limits in your area. First customer applications will be available from February 2027, with the first sales taking place under the scheme in April 2027.

Your First Home scheme FAQs

What homes will Your First Home be available on?

Your First Home will be available on eligible Countryside homes. Property price caps will apply depending on the area in which you're buying.

The government has provided example local price caps of £375,000 in Reading, £320,000 in North Devon, £355,000 in Manchester and £220,000 in Middlesbrough. For London, the published caps are £650,000 for Inner London and £500,000 for Outer London, as defined by the London Plan 2021. A full list of local authority price caps is still to be published.

We'll provide more information about which Countryside homes will be available through the scheme as details are confirmed.

Can you give an example of monthly costs?

To help you compare monthly costs, the example below uses a £300,000 home and a 30-year repayment mortgage with a 5% interest rate. It also takes into account a £60,000 equity loan, with no repayments towards the loan itself during the years shown, and a 2.5% deposit, compared with a 5% deposit for a standard 95% mortgage.

Period	Standard 95% mortgage	Your First Home mortgage	Equity loan interest	Total monthly cost under Your First Home
Years 1 to 5	£1,530	£1,248	£0	£1,248
Year 6	£1,530	£1,248	£75	£1,323
From year 7	£1,530	£1,248	£150	£1,398

Figures are rounded to the nearest pound. This is an illustration only. It is not a mortgage quote and does not include other costs of buying and owning a home

How does the equity loan work?

If your equity loan covered 20% of your home’s purchase price, you’ll usually repay 20% of its value when you pay back the loan. An independent valuation will determine your home’s value at that time. This means the amount you repay can increase or decrease as the value of your home changes.

The loan is interest-free for the first five years. Interest is then charged at 1.5% in year six and 3% from year seven. Interest payments are separate from your mortgage and do not reduce the amount of equity loan you owe.

When do I repay the equity loan?

You’ll usually repay the equity loan when you sell your home, but you can choose to repay part or all of it sooner.

You may need an independent valuation to establish your home’s current market value and how much you’ll need to repay. Before applications open, the government will provide more guidance on minimum repayments, valuations, possible fees and what to expect when selling or remortgaging.

When will Your First Home be available?

Customer pre-registration and further guidance are expected by the end of December 2026, with applications expected to open in February 2027.

What else should I consider?

Before buying a home through Your First Home, you'll need to think about your overall affordability, including mortgage repayments and the possibility of higher mortgage rates in future.

You'll also need to consider other costs associated with buying and owning a home. This will typically include legal and mortgage fees, council tax, insurance, maintenance, service or estate charges, and the costs associated with selling or remortgaging.

We recommend considering independent financial and legal advice before committing to a purchase.

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Your First Home scheme for first-time buyers

Buy Your First Home with Countryside

How will Your First Home Work?

How could Your First Home help?

Who can use Your First Home?

How to apply

Your First Home scheme FAQs

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