Your First Home - Government reveals new build price caps

News  |   4 November 2026

Written by
Zoe Hitchcock, Senior Associate Conveyancing Executive

The wait is over – local authority price caps have been published for the Government’s new Your First Home scheme, giving prospective buyers a clearer picture of which new-build properties could qualify.

The Government has revealed further details of its Your First Home scheme, designed to help first-time buyers get onto the property ladder with a smaller deposit and mortgage.

The newly published price caps are set by individual local authority areas. This means the maximum purchase price will depend on where the property is located, with separate limits for inner and outer London.

For example, the price cap is £500,000.00 in Bromley, £465,000 in Sevenoaks and £445,000 in Tunbridge Wells. The full list is now available to view here - Your First Home: local authority property price caps - GOV.UK.

How will the scheme work?

Eligible first-time buyers purchasing a qualifying new build home in England will be able to benefit from;

  • A minimum deposit of just 2.5% of the purchase price
  • A Government equity loan of 20% of the purchase price

There will also be no interest payable on the equity loan for the first five years.

How can our New Build Team help?

Buying a new build property using a government backed scheme can involve additional considerations, and having the right legal advice from the outset is essential.

Our New Build Team acts for buyers throughout the conveyancing process, helping them understand the legal commitments involved, reviewing the contract and supporting them through to completion.

With pre-registration expected before the end of December 2026, applications anticipated to open in February 2027 and the first sales expected in April 2027, now is a good time for prospective buyers to start exploring their options.

If you are considering buying a new build home through Your First Home, our team is on hand to help you understand the process and guide you through your purchase. You can contact one of the New Build team on 0208 290 0440. 

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