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ARTICLE · 15 OCTOBER 2026

‘Your First Home’ – A Boost For Buyers And Developers?

Ashfords LLP
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The UK government has unveiled 'Your First Home', a new scheme designed to help first-time buyers purchase new-build properties with just a 2.5% deposit and a government-backed equity loan. While the initiative aims to address mortgage affordability barriers and stimulate housing development, critical details about income limits, property price caps, and developer contributions remain unclear pending the autumn budget announcement.

United KingdomReal Estate and Construction
Kate Topp
Kate Topp
Rupert Lifely
Rupert Lifely

The government has announced a new scheme intended to help first-time buyers purchase a new-build home. ‘Your First Home’ would combine a 2.5% buyer deposit with a government-backed equity loan, while also seeking to stimulate demand for new housing.

Further details are expected in the upcoming autumn budget. For now, the announcement provides an outline of how the scheme could work and who may benefit.

How would the scheme work?

Under the current proposal, eligible first-time buyers in England would be able to purchase a new-build home from a participating developer with:

  • A deposit of 2.5% of the purchase price.

  • A government-backed equity loan equal to 20% of the property’s value.

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