First Homes

  • Deposit required: Minimum of 5% of the discounted purchase price. Dependent on the property and on mortgage eligibility from participating mortgage lenders.
  • Ownership: Full Ownership
  • Headline benefits: Homes discounted by at least 30% compared to market prices. In some areas the discount could be as high as 50%, providing even greater savings. The discounts will apply to the homes forever meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.
  • Headline requirements: First time buyer, earning less than £80,000 per year (£90,000 in London). Mortgage to cover at least 50% of purchase price. Councils can apply additional criteria such as local connection or key worker.

Overview of schemeFirst Homes scheme logo

First Homes is a new scheme designed to help local first time buyers and key workers onto the property ladder, by offering homes at a discount of 30% compared to the market price. This could save each buyer an average of £70,000, making deposits and mortgages more affordable. In some areas the discount could be as high as 50%, providing even greater savings.

The discounts will apply to the homes forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.

Getting first time buyers on the housing ladder and helping people to own their own homes in the places where they live and work.

Local first-time buyers and key workers

  • Purchasers of First Homes must be first-time buyers and must have a household income not exceeding £80,000 and £90,000 in London (or lower if set by the local authority)
  • Post-discount price caps on first sale of the property of £250,000 across England and £420,000 in London (or lower if set by the local authority)
  • A First Home should be the buyers only home and a purchaser will need to use a mortgage or home purchase plan for at least 50% of the purchase price of the home
  • Local connections and/or key worker status as determined by the relevant local authority

The first First Homes properties went on the market on 4 June 2021 as part of the first phase of an early delivery project in the Bolsover district, East Midlands, further sites are set to launch across the country soon. A further 1,500 will enter the market from autumn 2021, with at least 10,000 homes a year being delivered in the years ahead and more if there is demand. 

This scheme is only available in England.

First Home properties will be available throughout England.

First Homes will be offered on a limited number of plots in most new developments once the scheme is fully up and running. First you will need to check whether the builder is currently including First Homes as part of the development. If yes, you must qualify through the eligibility criteria and apply through the builder.

We will publish the home owners guidance for our limited offer of First Homes in June 2021. In future, builders who are offering the scheme will be able to provide further information.

Start by checking whether the builder is currently offering the scheme on the development where you want to buy. First Homes does not have an application deadline and is open to eligible applicants whenever plots are available. You will then apply to have your eligibility confirmed when you are ready to reserve a plot under the scheme.

Application processing may vary based on the location. For more information check with the builder.