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First Homes Schemes

A helping hand can make a big difference when you're a first-time buyer. That's why we support First Homes Schemes in England and Scotland. Whether it's a lower house price or a reduced deposit, they can help make owning your first home feel a little closer.

Your first home could be closer than you think

Buying your first home isn't easy. Between rising house prices, larger deposits and the challenge of saving, it can sometimes feel further away than you'd like.

First Homes Schemes in England and Scotland are designed to help first-time buyers own a home sooner. We're proud to support them.

First Homes England Scheme

  • Get a discount of 30% to 50% off the market value of a home, as determined by an independent valuer.
  • The discount stays with the property when it's sold, helping future first-time buyers benefit too.
  • You can usually only sell the property to someone who is eligible to buy a home under this scheme.

You'll need:

  • a deposit of at least 5%
  • a mortgage covering at least 50% of the discounted purchase price.

Scottish First Home Fund Scheme

  • Get up to £10,000 towards buying your first home, as long as the property is worth no more than £300,000.
  • The Scottish Government contributes towards the cost of the property. In return, it owns a share of the property based on how much it contributes.

You'll need:

  • a deposit of at least 5%
  • a mortgage covering at least 25% of the property's value or valuation (whichever is lower).
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For both schemes, the property must be the customer's main home and not purchased as buy to let or investment property.

How do you check if you're eligible?

EnglandScotland
You're a first-time buyer.You're a first-time buyer. If you're applying jointly, at least one applicant must be a first-time buyer.
You're buying a new build home, or a home that was originally bought through the scheme, in England.The home is in Scotland. It can be a new-build or an existing property.
Your household income is no more than £80,000 a year (£90,000 if you're buying in London).There are no maximum household income limits.
After the discount has been applied, the home costs no more than £250,000 (£420,000 in London).The home costs no more than £300,000.
You have a mortgage (or home purchase plan) covering at least 50% of the discounted purchase price.You have a mortgage covering at least 25% of the property's purchase price or value.

In England, local authorities can also apply their own criteria.

  • They may set a lower household income limit if they can show it's needed.
  • They may set a lower maximum purchase price.
  • They may require you to have a local connection, such as living, working or having family in the area. Members of the armed forces, recent veterans and their families are exempt from these local connection requirements.
  • They may choose to give priority to key workers.

How to apply for a First Homes Scheme

In England

Check your eligibility and find out how to apply on the government website.

Gov.uk website

In Scotland

Check your eligibility and find out how to apply on the government website.

Gov.scot website

Making home ownership more achievable

If you're eligible for a First Homes Scheme, we could help you find a mortgage that works for you, including options that only need a 5% deposit. We can also answer any questions you have about First Homes or other affordable home ownership schemes.

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