Select Page

First Homes Scheme

Home » Mortgages » Residential Mortgages » First Homes Scheme

First Homes is a new scheme to help local first-time buyers and key workers buy a first home, by offering homes at a discount of at least 30%.

If you’re a first-time buyer, you may be able buy a home for 30% to 50% less than its market value. This offer is called the First Homes scheme.

The home can be:

  • A new home built by a developer
  • A home you buy from someone else who originally bought it as part of the scheme

The First Homes scheme is only available in England.


You must be:

  • 18 or older
  • A first-time buyer
  • Able to get a mortgage for at least half the price of the home
  • Buying the home as part of a household where total income is no more than £80,000 (or £90,000 if you live in London)

The local council may also set some eligibility conditions.
For example, some councils may prioritise giving First Homes discounts to:

  • Essential workers
  • People who already live in the area
  • Those on lower incomes

How it works

You can look for new homes in your area that are advertised by developers as part of the First Homes scheme.

Developers offer these homes to first-time buyers with 30% to 50% of the market value taken off the price.

Every home that’s sold is valued by an independent surveyor to make sure the discount is based on actual market value.

The homes cannot cost more than £420,000 in London, or £250,000 anywhere else in England, after the discount has been applied.

You can only sell the home to someone who is eligible to buy a First Home. You must give them the same percentage discount that you got, based on the home’s market value at the time of sale.

Contact us about the First Homes Scheme

We can visit you

Let us know when is convenient to call round

You can visit us

Come to see us in Cambridge, we have parking

We can call you

Arrange to discuss everything over the phone

We are proud to be members of these organisations