From 2.5%
Eligible First Time Buyers could purchase a home with a deposit from just 2.5%, subject to mortgage affordability and scheme requirements.
Your First Home is a new Government scheme designed to help eligible First Time Buyers purchase a new-build home in England. It combines a deposit from 2.5% with a Government equity loan worth 20% of the purchase price. A repayment mortgage from a participating lender covers the remainder. Use the calculator to see how the figures could work for an example home.
Local property price caps apply and vary by area. The example £300,000 home may exceed the limit where you want to buy. Check your local price cap on GOV.UK.
Example based on a 2.5% deposit and 20% equity loan. Figures exclude mortgage interest, fees, and other buying costs. This is not a mortgage quotation or eligibility assessment. Actual borrowing is subject to lender checks and scheme criteria.Eligible First Time Buyers could purchase a home with a deposit from just 2.5%, subject to mortgage affordability and scheme requirements.
A Government equity loan worth 20% of the purchase price helps reduce the amount you need to borrow through a repayment mortgage.
The Government equity loan is interest-free for the first five years. Interest charges begin in year six.
The scheme is intended for First Time Buyers purchasing a home to live in as their main residence.
You'll need to buy an eligible new-build home in England from a developer taking part in the scheme.
For properties outside London, your total annual household income must be £110,000 or less.
Eligible homes must fall within the published property price cap for their local authority area. Check your local price cap on GOV.UK.
Not yet. The Government plans to open customer pre-registration by the end of December 2026, followed by full applications in February 2027. The first home purchases through the scheme are expected from April 2027. You can register your interest with Duchy Homes below, but this is not an application or official Government pre-registration.
You would contribute a deposit of at least 2.5%, receive a Government equity loan worth 20% of the purchase price, and arrange a repayment mortgage from a participating lender for the balance. For example, on a £300,000 home with a 2.5% deposit, that would be a £7,500 deposit, a £60,000 equity loan, and a £232,500 repayment mortgage. Local property price caps also apply, so a £300,000 home will not qualify in every area. Your mortgage and eligibility would still be subject to approval.
2.5% is the minimum deposit under the announced scheme, with a maximum deposit of 15%. The amount you need will depend on your circumstances, affordability checks, and the requirements of participating mortgage lenders.
No interest is charged on the Government equity loan for the first five years. Under the published scheme terms, interest is 1.5% in year six and 3% from year seven. These payments are separate from your mortgage and do not reduce the equity loan you owe. More information about how interest is collected is still to be published.
Yes. The loan is normally repaid when you sell your home, although you will also be able to repay some or all of it earlier. The amount to repay is linked to your home's value at the time, so it could rise or fall as the property's value changes. For example, if you originally borrowed 20% of the purchase price, you would normally repay 20% of the home's independently assessed value when repaying the loan. Full repayment rules will follow.
Yes. You will own your home from the day you complete your purchase. The Government will not be your landlord or a joint owner, although you will have a separate equity loan to repay under the scheme.
It's too early to confirm which individual Duchy homes may be eligible. Homes must fall within their area's published price cap and meet the final scheme requirements, and both the developer and mortgage lender must be participating. We'll share more information as those details are confirmed.
No. First Homes is a separate scheme that offers eligible buyers a discount on the purchase price. Your First Home is a Government equity loan scheme that helps reduce the deposit and repayment mortgage needed to purchase an eligible new-build home.
Register your interest with Duchy Homes and we'll keep you updated as more scheme details are announced, including which of our new homes may qualify. This is an enquiry with Duchy Homes, not an application for the Government scheme.
Register your details and we'll keep you updated as the Government confirms more information about Your First Home and which Duchy homes may qualify. This is not an application for the Government scheme.
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Information is based on UK Government guidance first published on 28 October 2026 and updated on 3 November 2026, including the published local authority property price caps. Further scheme rules, eligibility requirements, and updates may follow. The scheme is not yet open for applications. The calculator is illustrative only and excludes mortgage interest, equity loan interest from year six, fees, and other homebuying costs. Equity loan repayments are linked to the property's value and may rise or fall. Mortgage approval, availability of eligible homes, and scheme eligibility are not guaranteed. Registering interest with Duchy Homes is not Government scheme pre-registration. This information does not constitute financial or mortgage advice; independent financial and legal advice is recommended.
