First Homes Scheme

We can help with your First Homes Scheme mortgage

First Homes is a new Government scheme for first time buyers in England.

The scheme aims to get people onto the property ladder in their local area by offering new build homes at a discount of 30%-50% of the market price, depending on location. 

To be eligible for the scheme, you must:

  • Be a first time buyer. In a joint purchase, you both must be first time buyers.

  • Have a household income of £80,000 or less, or £90,000 or less if you live in London.

  • The First Home must be your only home, and you will need to live in it full-time.

  • You need to use a mortgage for at least 50% of the purchase price.

In addition, some local authorities can impose additional restrictions, including ensuring that buyers have a connection to the area in which they are planning to buy. They can also prioritise key workers, such as NHS staff or veterans. 

You can find out more about the First Homes scheme, and how to apply, on the Government’s Own Your Home website.

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Mortgages at Newbury Building Society

Product Initial rate APRC Mortgage fees Max LTV Features
First Homes 3 year discount 65% LTV 4.99%discounted 6.4% £850 Purchase £850 Remortgage 65%
First Homes Fixed rate until 29 June 2027 65% LTV 4.89%fixed 6.3% £850 Purchase and Remortgage None None 65%
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