Your First Home is a government equity loan for first-time buyers of new-build homes in England, announced in the autumn Budget. It is not open yet: the rules on record are what the government has published so far.
First-time buyers of a new-build home in England, from a builder taking part, who will live in it as their main home, within the household income limit and the local price cap shown below.
You put down a small deposit and take a repayment mortgage from a lender in the scheme, and the government lends a share of the price as an equity loan. The loan is interest free for its first years, then interest starts, and it is repaid as a share of the home’s value, so the amount rises or falls with the market.
Each council area’s price cap is published and shown below, but the full rules, such as how income is assessed and how the loan is valued and repaid, are still to come, so no home can be confirmed for it yet. The builders and lenders taking part will be named before it opens. Because you repay a share of the value, a rise in the home’s price raises what you owe.
Each rule in its primary source's own words, with the date it applies from.
Your First Home is not open yet: applications are expected to open in February 2027, and its full rules come before then.
. Start date: the source states no start date, so this is the day it was published.The scheme is expected to open for applications in February 2027.
Every buyer must be a first-time buyer.
. Start date: the source states no start date, so this is the day it was published.be a first-time buyer
The home must be a new build.
. Start date: the source states no start date, so this is the day it was published.buy a new-build home in England, within the relevant local price cap
The home must be in England.
. Start date: the source states no start date, so this is the day it was published.buy a new-build home in England, within the relevant local price cap
The home must cost no more than its council’s price cap, from £215,000 to £650,000; GOV.UK published the cap for each of England’s 296 councils on 3 November 2026.
. Start date: the source states no start date, so this is the day it was published.Your First Home property price cap
The home must be your main home.
. Start date: the source states no start date, so this is the day it was published.use the property as their main home
Household income must be £110,000 or less, or £140,000 or less in London.
. Start date: the source states no start date, so this is the day it was published.have a total annual household income of £110,000 or less outside London, or £140,000 or less within London
The deposit must be at least 2.5% of the price.
. Start date: the source states no start date, so this is the day it was published.a deposit of at least 2.5% of the purchase price
The government lends 20% of the price, interest free for 5 years, then 1.5% in year 6 and 3% from year 7.
. Start date: the source states no start date, so this is the day it was published.a government equity loan worth 20% of the purchase price, interest free for 5 years
You must buy with a repayment mortgage from a lender in the scheme.
. Start date: the source states no start date, so this is the day it was published.a repayment mortgage from a participating lender
The builder must sell the home through the scheme; the builders taking part are to be named before it opens.
. Start date: the source states no start date, so this is the day it was published.Information about participating developers will also be made available ahead of launch.
The home must be within its area’s price cap; the caps by council area are still to be published.
. Start date: the source states no start date, so this is the day it was published.A full list of price caps by local authority area will be published shortly.
Answer what you know. Each rule is checked against your answers, and anything left blank shows as a fact the check still needs.
Your First Home is not open yet: applications are expected to open in February 2027, and its full rules come before then.
The scheme is expected to open for applications in February 2027.
Your First Home Ministry of Housing, Communities and Local Government, read 31 Oct 2026
This scheme has no local criteria.
As of 12 Nov 2026. Lenders, providers and councils make the final decision.