YOUR FIRST HOME SCHEME - QUESTIONS TO KEEP
Buy My First Home | Checked 28 October 2026 | England only

Budget policy: deposit 2.5%-15%, equity loan up to 20%. Household income caps £110,000 outside London / £140,000 inside. Inner/outer London price caps £650,000 / £500,000; full local caps still need checking. Pre-registration by end December 2026, applications from February 2027, first loans April 2027. Five years interest-free; later numerical charges and full operational rules remain unknown. This is not an application or an approval.

Before relying on the scheme, record the original official source and answer:
[ ] What is the final first-time-buyer definition?
[ ] What are the household-income and local price caps?
[ ] Is this exact home and developer participating?
[ ] What is the equity-loan repayment formula and when must it be repaid?
[ ] How long is it interest-free, and what later charges apply?
[ ] What valuation, legal and early-repayment costs apply?
[ ] What mortgage assessment and application evidence are needed?
[ ] What is the total cash needed beyond the deposit?
[ ] What is the verified application opening date and official route?

My unanswered questions:


Illustration only: 2.5% of £180,000 = £4,500; 20% = £36,000; the remaining 77.5% = £139,500. This is not an eligible-property claim.
Official Budget: https://www.gov.uk/government/publications/budget-2026-document/budget-2026-html
General preparation: https://www.moneyhelper.org.uk/en/homes/buying-a-home/saving-money-for-a-mortgage-deposit
Use the website's current dated guide before acting. You choose what to share with a broker or lender.