We are considering changes to interest rates on their mortgage and savings following the Bank of England base rate change on 7 November 2024.
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.
Appointments are available by video call, phone and in branch.
Book nowProduct | Initial rate | APRC | Mortgage fees | Max LTV | Features |
---|---|---|---|---|---|
First Homes 3 year discount 65% LTV | 4.64%discounted | 6.0% | £850 Purchase £850 Remortgage | 65% | |
First Homes Fixed rate until 29 December 2027 65% LTV | 4.64%fixed | 6.0% | £0 Purchase £0 Remortgage | 65% |
You can check the Financial Services register on the FCA's website.