Budget 2026: Your First Home – What first-time buyers have been waiting for!

Announced in today’s Budget, the Government’s new Your First Home scheme will help eligible first-time buyers in England purchase a new-build property with a deposit of just 2.5%, supported by a 20% Government equity loan. The loan will be interest-free for the first five years. 

With applications expected to open in February 2027, the scheme will offer a new route onto the property ladder for buyers looking to purchase a property in a challenging market. 

But what should buyers know? Eligibility criteria, property price caps and participating lenders will all play a part. Buyers should also understand that the equity loan is linked to the property’s future value, which will affect how much they repay. 

Our New Build Team advises purchasers throughout their new build journey, helping them understand the legal details and make informed decisions. 

Thinking of buying a new-build home? Contact our New Build Team to find out how we can help

The scheme is expected to open for applications in February 2027. Full guidance and terms will be published by the Government before launch.