In September 2026, the government announced Your First Home, a new first-time buyer scheme that helps buyers who can manage the monthly mortgage but are held back by the deposit. More information was announced at the budget on 28th October, but more details are still to be released. This page will summarise what we know so far.
Your First Home is a new government scheme for first-time buyers purchasing a new-build home in England. Its purpose is simple: to shrink the deposit that stands between many people and their first home. It works as a government equity loan for first-time buyers, paired with a small deposit, so buyers need to borrow less from a mortgage lender upfront.
Once it goes live, we’ll be able to offer new-build homes for first-time buyers under the scheme across our developments.
At its heart, this is a 2.5% deposit scheme. It has three parts:
You put down a deposit of as little as 2.5% of the purchase price of the new build home
The government provides an equity loan of up to 20% of the property’s value. This is interest-free for the first 5 years.
A repayment mortgage from a participating lender covers the rest
A 2.5% deposit on a £250,000 home is £6,250 rather than the £25,000 that a usual 10% deposit would require.
For most first-time buyers, the deposit is the real barrier, not the monthly repayment, which is exactly what this scheme sets out to change.
Regional price caps will apply. Full details of these have not yet been published.
Help to Buy closed to new applicants in 2022, and many first-time buyers have been waiting for a successor. Your First Home is widely seen as the Help to Buy replacement: a government equity loan paired with a low deposit, though the deposit required is smaller and the terms are new.
For the other first-time buyer support available from Jones Homes right now, see our help for homebuyers options.
Your First Home scheme eligibility is expected to be open to first-time buyers buying a qualifying new-build as their only home from February 2027, with the first legal completions under the scheme taking place from April 2027. Local house price limits will apply. A full list of price caps can be found: HERE
There will also be a household income cap.
You will own your home from the day you complete your purchase. The government will not be a joint owner or your landlord.
As with any mortgage, participating lenders will carry out affordability and credit checks before making a lending decision.
If you are not sure whether you would qualify, our sales teams can talk it through with you once the full criteria are published.
Applications are not open yet. The scheme will open for customer pre-registration before the end of the year – this will not commit you to purchasing through the scheme, but will provide further information on your eligibility for the scheme and price caps applicable in your area.
Before the scheme opens, the government will publish full guidance, terms and conditions on the operation of the scheme.
Pre-registration is expected to open before the end of the year, ahead of launch. But for now you can register your interest at your local Jones Homes development today, and our team can contact you and talk you through the options once launched.
For more than sixty-five years, we’ve been helping people find a place to call home. While the full details of the scheme are being confirmed, now is the perfect time to explore your options, understand your budget and discover the Jones Homes development that’s right for you.
If you’re ready to move sooner, selected homes are available with incentives such as our 5% Deposit Match scheme. Explore our developments and speak to our sales team to find out more.
Your First Home is a government scheme and its full terms are yet to be confirmed. Information on this page is correct at the time of writing and does not constitute financial advice. We will update this page as further details are announced.