Your First Home is a new government scheme that lets first-time buyers in England buy a new-build home with a 2.5% deposit and a 20% government equity loan. Full details are due in the Autumn Budget on 28 October. Our New Homes team is already talking to developers, so start with us.
Know where you'd like to live? Tell us, and our New Homes team will be in touch as soon as the details land on 28 October:
North London South London East London West London Central London Berkshire Home Counties Somewhere else
What is the Your First Home scheme?
Based on what has been announced so far, this is what is confirmed with the Your First Home scheme:
Final eligibility criteria and scheme details are still to be confirmed by the Chancellor in the Autumn Budget on 28 October 2026.
How it works
Buying a £500,000 home with Your First Home
Illustrative example based on the terms announced on 26 September 2026.
26 September
Scheme announced: 2.5% deposit, 20% equity loan
Now
Introduce your search to our New Homes team
28 October
Budget sets the income cap, price caps and timetable
By end of 2026
Pre-registration reported to open
Which developers are taking part in Your First Home?
Developers choose whether to join Your First Home, and you can only use the scheme to buy from one that has. They'll make that call once the Budget sets out the terms on 28 October. Our team are tracking the detail with them now, and every developer we've spoken to is keen. So as soon as they confirm, we can tell you which developments, and which homes within them, the scheme covers.
Buy where you rent, or somewhere you'd written off. That's where the size of our network comes in. The Foxtons New Homes network stretches across London and well beyond, with homes at a range of price points, amenities and layouts, from a residents' club with a steam room and gym to 12 acres of parkland in West Ham, in neighbourhoods with completely different characters. The more developers that join, the wider your choice, which is why buyers are already ringing us and telling our team what they're looking for. When developers begin sharing their decisions, we can match you to the right home straight away, ahead of the rush.
"The anticipation around the Your First Home scheme is unlike anything we've seen in recent years. The prospect of buying a new-build home with just a 2.5% deposit has the potential to open the door to homeownership for thousands of first-time buyers and bring a new wave of confidence to the New Homes market."
Amit Masrani
Sales Director of New Homes at Foxtons
Never mind the gap. If you're saving for your first home, the distance between what you've saved and what you need could be a lot shorter under this scheme. Here's what that could look like on three homes we're selling right now:
Heron Wharf, E14
£41,625 less to save
Plus a £111,000 government equity loan
Lombard Square, SE28
£34,500 less to save
Plus a £92,000 government equity loan
TwelveTrees Park, E15
£38,625 less to save
Plus a £103,000 government equity loan
Swipe or scroll to see all three →
Illustrative only. Asking prices correct on 21 October 2026. New-build deposits typically run between 10% and 20%; 10% is used here as an example. All figures are subject to the scheme's confirmed terms, eligibility and price caps, set out at the Budget on 28 October.
What can I do before the Your First Home scheme opens?
Already buying a new-build home?
If you're in the middle of your purchase, you've already figured this out, so keep going. You don't need to wait on a new scheme and apply for a new loan if you've found your deal and your development.
Here's how to be first in line for the Your First Home scheme:
Get in touch with Foxtons New Homes team
Tell us what kind of home you're looking for, what your commute looks like, what your timeline and goals in property are. We'll go through the scheme with you, tell you all about the process of buying new homes and share any developments we have you might like to look around.
Get in touchMake a plan with Alexander Hall
We'll introduce you to Alexander Hall, our partner mortgage broker, to help you estimate the price range you're looking for.
Meet Alexander HallBook your viewings
Once further details of the scheme are announced on 28 October, our team will reach back out, go through it with you based on your personal situation, and arrange some viewings.
Browse New HomesWhere would you love to live? Pick an area and we'll be in touch with everything you need to know about Your First Home:
North London South London East London West London Central London Berkshire Home Counties Somewhere else
Source: This article draws on the Foxtons New Homes team, who sell new-build homes for developers across London and work with first-time buyers every day. It reflects their conversations with developers about Your First Home since the scheme was announced. If you have any questions on this article, email us to ask a Foxtons expert.
