Ways to buy
Launching spring 2027

Your First Home scheme

Buy your first home with just a 2.5% deposit with the Government's new scheme which is designed to help first-time buyers get on the property ladder.

Midford kitchen diner at Edwalton Chase

A simpler route to Your First Home

Based on the Government's announcement, eligible first-time buyers will be able to:
  • Buy a new-build home with a deposit of at least 2.5% of the purchase price
  • Receive a Government equity loan worth 20% of the purchase price, interest-free for 5 years
  • Fund the remainder through a mortgage from a participating lender
In simple terms, you would contribute a deposit, the Government would provide an equity loan, and a mortgage would cover the rest.

Final eligibility criteria and scheme details are still to be confirmed.
 
Typical Taylor Wimpey street scene

Be the first to know about Your First Home

Register your details to receive the latest updates for Your First Home scheme.

Couple in new Taylor Wimpey home lounge

What we know about Your First Home so far...

  • This scheme is for first-time buyers to buy a new-build home in England
  • Buy an eligible home with deposit of at least 2.5%
  • A government equity loan worth 20% of the purchase price, interest-free for 5 years
  • The scheme is expected to open for applications in February 2027, with first property sales expected in April 2027
  • Buyers must have a household income of £110,000 or less outside London, or £1400,000 or less within London
  • Property price caps apply to areas across England (further information in link below)

Register your details to stay up to date with the Your First Home scheme.

gov.uk - Your First Home
Couple in new Taylor Wimpey home lounge

An example of how the scheme could work

If you're buying a home for £300,000, your contribution might look something like this:

This example is for illustration purposes only and doesn't guarantee eligibility, a mortgage offer or approval under the scheme.

How much will it cost?

This would depend on the home you buy, the mortgage rate you are offered and your personal circumstances.

The equity loan will be interest-free for the first 5 years. The following interest rates will then apply

Period Interest rate
Years 1 to 5 0%
Year 6 1.5%
From year 7 3%
Period Years 1 to 5
Interest rate 0%
Period Year 6
Interest rate 1.5%
Period From year 7
Interest rate 3%

Interest rates are separate from your mortgage and do not reduce the amount of equity loan you owe.