Register your interest now for the government's upcoming first-time buyer scheme, offering a helping hand to buy a new build home with a 2.5% deposit and a 20% equity loan.
How does Your First Home scheme work?
Looking to buy your first home, but struggling to raise a deposit? Look no further than Your First Home scheme - a buying scheme backed by the government to enable you first time buyers to step on to the property ladder and purchase a new build home.
Whilst, we are still awaiting the full details of the scheme, first-time buyers will require a 2.5% deposit with a 20% government-backed equity loan to buy a new-build home.
Register your interest below for further updates.
Your First Home scheme criteria
Considering what we know so far, below is Your First Home criteria:
- You must be a first-time buyer
- A maximum combined household income of £110,000
- You must use the property as your main home
- You could buy with just a 2.5% deposit
- A 20% Government-backed equity loan will be available, interest free for 5 years
- It must be a new-build home to qualify
- Regional price caps will apply - £305,000 for Shropshire, £285,000 for Telford & Wrekin, £265,000 for Newcastle-under-Lyme
