Your First Home - new scheme for first time buyers

News  |   28 September 2026

Written by
Georgia Kowalyk, Solicitor

At the Labour Party Conference, a new scheme for first-time buyers was introduced.  It aims to help first-time buyers in England enter the property market with a deposit of just 2.5% when buying a new build property. Similar to previous schemes, first-time buyers will be provided with a loan of 20% of the property’s value. The loan is expected to be interest-free for an initial period.

Further information will be announced at the Budget on 28 October, including costs and implementation timelines.

Additional Considerations:

  • The regional property price caps
  • The household income caps
  • Any age restrictions applicable
  • Definition of qualifying new-build houses
  • Length of the interest-free period
  • Interest payable on the loan post-interest-free period
  • Repayment terms

Thackray Williams will continue to monitor developments to the Your First Home scheme and the upcoming Budget. If you have any questions, please get in touch with a member of the New Build team.

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