Your First Home scheme.
Smaller deposit.
Clearer next steps.
Understand the new government scheme for first-time buyers in England, explore the numbers and get ready for the legal side of buying a new-build home.
Based on HM Treasury’s Budget, published 28 October 2026. Scheme applications are scheduled for 2027.
announced minimum deposit
A loan towards your home, rather than a discount on its price.
What is Your First Home?
Your First Home is a government equity-loan scheme intended to help eligible first-time buyers purchase a new-build home in England from a participating developer. Your own deposit, an equity loan and a mortgage make up the purchase funding.
A loan, not free equity.
The initial interest-free period does not remove the need to repay the loan. Ask your mortgage adviser and conveyancer to explain the final repayment terms and costs before you commit.
| Who and where | First-time buyers in England |
|---|---|
| Deposit range | 2.5% minimum; 15% maximum |
| Equity loan | 20%, initially interest-free for five years |
| Household income | Up to £110,000 outside London; £140,000 in London |
| Property price | Maximum home price: £650,000 in inner London and £500,000 in outer London. Elsewhere in England, the limit varies by local council area. Check your area below → |
The Budget sets out the scheme design. The detailed operating rules, participating homes and lender requirements still need checking for your purchase.
What is the home price limit in your area?
Enter the postcode of the home you want to buy. We’ll find its council area and compare your home price with the government’s published limit, where available.
No postcode yet?
Find your council and price limit.
London limits and four council examples have been published. We’ll show a figure only where we have an official one.
A price within the limit is one requirement, not approval for the scheme. The home, buyer and mortgage must also qualify.
Get help with conveyancing →Price limits checked 28 October 2026. Source: government scheme guidance. London areas follow the London Plan borough definitions. Newly created developments may not have a recognised postcode yet; use the council selector or contact us.
What could your deposit look like?
Move the deposit slider or enter a home price to see how the three parts of the purchase could fit together. The starting example is a £300,000 home.
This is a funding illustration, not a mortgage offer or an eligibility decision. Legal fees, tax, moving costs and any loan charges sit outside these figures.
Keep a separate moving budget.
Your deposit is only one part of the cash you need. Plan for conveyancing, searches, registration and any reservation payment alongside it.
Understand the other purchase costs →Illustrative purchase funding
The illustration uses the announced 20% equity loan. Use the area checker above for published price limits. This illustration does not assess household income or lender affordability.
Please enter a home price between £10,000 and £5,000,000.
When can you apply?
The government says pre-registration will open by the end of December.
Full scheme applications are scheduled to open from February.
The first equity loans are scheduled to be issued from April.
These are the government’s announced milestones. Your reservation, mortgage and legal timetable must fit the scheme and the development.
A new-build purchase.
An extra layer of legal work.
The scheme changes how you fund the home. Your legal team still needs to investigate the property, explain the contract and coordinate the purchase funds.
Adding an equity loan means the legal instructions and documents need to work alongside the main mortgage. A firm’s place on your mortgage lender’s panel does not, on its own, confirm it can handle this new scheme.
Explore our mortgage lender directory →- The home and development Title, plot plans, planning documents, access, services, warranty and ongoing estate or leasehold charges.
- Your funding and scheme documents Deposit evidence, developer incentives, mortgage instructions and the equity-loan documents supplied for the transaction.
- The dates that matter Reservation deadline, exchange requirements, mortgage expiry and the developer’s completion arrangements.
- The full cost of the legal work New-build work, equity-loan work, leasehold work where relevant, VAT, searches and registration.
What to prepare now
Bring the property details.
Development, plot, postcode, asking price, tenure and any reservation pack. Ask the developer whether the particular home is intended to participate.
Know your funding plan.
Deposit source, buying party, household income and any lender or broker details. Your mortgage adviser can assess affordability; the calculator above cannot.
Share the deadline early.
Let the legal team see the reservation deadline and expected build stage before you commit to a timetable. Keep your mortgage-offer expiry in view.
Clear costs.
Real work behind your moov.
We do not accept referral fees or commission from our partner law firms. Our role goes beyond passing on your details: we help prepare the file, coordinate initial documents and liaise with your agent and broker where applicable.
Your legal work is carried out by an independent SRA-regulated solicitor or CLC-regulated licensed conveyancer. We’ll help establish the appropriate provider and scope for your purchase.
Choose your protection with your eyes open.
Compare fixed legal fee packages and no sale, no legal fee protection. If you want extra cover for a future attempt, see the file-transfer and replacement-search benefits available with the relevant package.
Read customers’ experiences on Trustpilot ↗
Your quote identifies the legal fee, additional work, third-party costs and package terms.
Your First Home questions
Is Your First Home the same as the First Homes scheme?
No. Your First Home is the newly announced equity-loan scheme. The existing First Homes scheme has a different structure and its own rules. Check which scheme the developer is offering before comparing costs or applying.
Can I apply through onthemoov?
We help with conveyancing enquiries. We are not the government’s scheme application service, a mortgage lender or a scheme administrator. Use the official application route when it opens; contact us about planning the legal work for your purchase.
Can any mortgage-panel conveyancer handle the scheme?
Do not assume so. Ask whether the specific legal provider can handle both your mortgage lender’s requirements and the scheme’s legal instructions. We can discuss your lender and funding details before arranging the appropriate quotation.
Will my conveyancing quote include the equity loan?
Tell us you intend to use Your First Home before you instruct. Ask for the quote to identify the equity-loan legal work as well as the new-build work and other charges. A standard purchase quote should not be treated as a confirmed all-in scheme quotation.
Do the deposit figures include legal fees and Stamp Duty?
No. The deposit illustration only shows the purchase funding. Conveyancing, registration, searches, moving costs and any property tax need their own budget. Your tax position depends on the property price and your circumstances.
Is the government loan a discount on the home?
No. It is borrowing towards the purchase. The initial interest-free period does not make it a gift. Review the final loan conditions, repayment arrangements and charges with your advisers.
Your First Home conveyancing
Tell us about the home, lender or broker and your intended timetable. We’ll help you understand what needs to be covered in your conveyancing enquiry.
Scheme-specific legal availability and pricing need confirmation before instruction.
Have these ready
- Purchase price and property postcode
- Developer, development and plot
- Freehold or leasehold
- Mortgage lender or broker, if known
- Reservation and expected completion dates
Our source: the government’s Budget
Scheme facts on this page follow HM Treasury’s Budget 2026 document, published 28 October 2026, particularly the housing section within “Hope for the future”. See also the original government announcement.
Information updated 28 October 2026. Detailed scheme guidance will determine individual applications. onthemoov is a conveyancing broker, independent of the government.
