Buying your first home can feel like a big step — especially when rising prices make saving for a deposit harder than ever. The government-backed First Homes Scheme is designed to help first-time buyers in England purchase selected new-build homes at a discount of at least 30% off the market value. That could mean a smaller deposit, lower monthly repayments, and a better chance of buying in the area you already know and love.
At First Mortgage, we’ll help you understand whether the scheme could work for you, explain your mortgage options in plain English, and support you from your first conversation through to getting your keys. With fee-free advice, access to over 12,000 products, and dedicated advisors who genuinely care, we’re here to make your first home feel more achievable.
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Does a first home seem out of reach?
We’re passionate about helping people buy their first homes, and we know how tough it can be. To find a solution that works for you, we’ll talk you through the latest:
- Government-backed initiatives
- Affordable housing options
- Help-to-buy schemes
- Low-deposit mortgages from specialist lenders
We’ll work to make your budget stretch further and help you achieve your home-owning goals as soon as possible. You may be surprised at what’s possible.
Here's what you need to know about the First Homes Scheme
The First Homes Scheme offers discounted property prices to help first-time buyers and key workers purchase homes in the communities where they live or work.
The scheme is only available in England, and the property must be either:
- A new-build home from a participating developer
- An existing home that was originally purchased through the First Homes Scheme
To qualify for the scheme, you must:
- Be aged 18 or over
- Be a first-time buyer
- Have a deposit of at least 5% of the discounted purchase price
- Take out a mortgage for at least 50% of the discounted purchase price
- Have a combined household income below £80,000 a year (£90,000 in London)
- Purchase a property that costs no more than £420,000 in London, or £250,000 elsewhere in England after the discount has been applied
Your local council may apply additional eligibility criteria and prioritise:
- Key workers and essential workers
- People who already live in the local area
- Households on lower incomes
There may also be additional exemptions available for members of the armed forces and their families.
Like any major financial decision, it’s important to understand exactly how the scheme works. Your dedicated advisor can talk you through the details and answer any questions you may have.
A few key things to know:
- When you remortgage, it will be based on the property’s value after the original discount has been applied
- If you decide to sell your home, you’ll need a valuation from a surveyor registered with the Royal Institution of Chartered Surveyors (RICS)
- The same percentage discount you received must be passed on to the next eligible buyer when you sell
- The discounted resale price will be based on the market value of the property at the time of sale
If you’re interested in the First Homes Scheme, let the developer or estate agent know that you’d like to buy through the scheme.
They’ll help you complete the application and submit it to your local council for approval. If you’re reserving a new-build property, you may need to pay a reservation fee — but this is typically refunded if your application is unsuccessful.
For more information about the scheme, you can also visit the official government website.
We want to help you get the keys to your first home
We have offices throughout the country. However, most of our clients complete the entire process by phone or video call. Got a mortgage question at 7pm? Call us. We’ll be there for you.
We’re not just here to help with today’s mortgage — we’ll support you throughout your home-owning journey. Free, always.
Ready to get accepted on a mortgage?
If you’re still getting your head around the process, this is the journey we’ll go on together.
We’ll get to know you and understand your unique situation and priorities. That way, we can tailor our advice to meet your specific needs.
We’ll run the numbers and calculate your borrowing potential. Then we’ll use smart tech to search thousands of mortgage deals from major banks and specialist lenders, securing your mortgage in principle with a mortgage that’s right for your situation.
With a mortgage in principle, you’re in a stronger position when booking viewings as a serious buyer. You can act quickly and make an offer the moment you find your perfect home.
Once your offer is accepted, we’ll manage all the paperwork and coordinate with your lender, solicitor and surveyor to ensure everything runs smoothly.
Your mortgage journey doesn’t end when you get your keys. We’ll monitor your mortgage and be in touch when it’s time to renew or if better deals become available. We can also help protect your home and family with tailored protection advice.
And remember — our advice is fee-free forever.
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