New scheme offers support to 70,000 first-time buyers
The Your First Home scheme will provide £4.7 billion in government-backed funding and is expected to help about 70,000 households in England buy their first home.
Buyers need a 2.5% deposit. They can get a government-backed loan.
The loan can be 20% of a new home’s price. It has no interest for five years.
The scheme has income limits. The limit is £110,000 outside London.
The limit is £140,000 in London. The home price limit is £650,000 in inner London.
The home price limit is £500,000 in outer London.
People can register by the end of December. They can apply from February 2027.
The first loans will start in April 2027.
Section: Business
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