Government schemes for new build buyers change regularly, and the housing market has seen a lot of change in the last few years. This is where things stand right now, written from what we are seeing day to day with clients buying new properties. We review it whenever the rules move.
Your First Home: the new equity loan scheme
On 26 September 2026 the UK government announced Your First Home, a new equity loan scheme for first time buyers in England buying a new build home from a developer signed up to the scheme. The plan is a deposit of just 2.5%, a government equity loan of 20%, and a mortgage for the remaining 77.5%. The loan is expected to be interest free for an initial period.
When can you apply for Your First Home?
Not yet. Full details, including local property price caps, the household income cap and how long the interest free period lasts, are due at the Budget on 28 October 2026, and pre registration is expected to open by the end of 2026. If you are thinking of using it, speak to us now and we will make sure you are ready to go when it opens. We will update this page as soon as the rules are confirmed.
What happened to Help to Buy?
The Help to Buy equity loan scheme closed to new applications in England on 31 October 2022. It lent up to 20% of the price (40% in London) on new build homes, interest free for five years. Interest then starts at 1.75% in year six and rises every year after that, so many owners are now looking to repay it. Our Help to Buy remortgage guide explains how.
Deposit Unlock
Deposit Unlock is run by housebuilders rather than the government. Participating developers pay into an insurance pot so that a small number of lenders can offer 95% mortgages on their new homes. It can be useful if your chosen lender caps new builds at 90%, but the rates are not always the cheapest, so we always compare it with the open market.
Lifetime ISA
A Lifetime ISA lets you save up to £4,000 a year towards your first home, with the government adding a 25% bonus. You can use it on a new build or an older home as long as the price is within the cap. Check the account rules and give your provider plenty of notice, as the money has to go to your solicitor rather than to you.
Self builders
If you are one of the self builders planning to build your own home rather than buy from a developer, most of the schemes on this page will not apply. A self build project is usually funded with a self build mortgage, which releases money in stages. Your local council also keeps a Right to Build register for people looking for a plot, so it is worth adding your name.
We are fee free on over 90% of cases. Where a fee does apply, it is £299 on mortgages under £100,000 or up to £995 on more complex or adverse cases, and we always tell you before any work starts.
Your home may be repossessed if you do not keep up repayments on your mortgage.
