The Government’s new Your First Home scheme, announced in the Autumn Budget, aims to help around 70,000 households in England buy their first home.
At Rivendale Developments, we welcome initiatives that make homeownership more accessible, particularly for those struggling to save a deposit.
How will the scheme work?
Eligible first-time buyers purchasing a qualifying new-build home will be able to use:
- A deposit from 2.5%
- A 20% government equity loan
- A repayment mortgage to cover the balance.
The equity loan will be interest-free for the first five years, with interest payable thereafter. Income limits, local property price caps and mortgage affordability checks will apply.
For a qualifying £300,000 home, a 2.5% deposit would be £7,500, compared with £15,000 for a 5% deposit.
When can buyers apply?
Pre-registration is expected to open by the end of December 2026, followed by applications in February 2027 and the first sales from April 2027. Buyers should check official guidance for confirmed dates and eligibility requirements.
Find your first home with Rivendale
As a family-run developer creating high-quality contemporary homes across Hampshire and the South Coast, we understand how much buying your first home means.
We will share further updates as details become available. In the meantime, visit our website to explore our upcoming residential developments.
Rivendale Developments
Building high-quality homes across Hampshire and the South Coast.
