Thinking about buying through the First Homes Scheme?
The First Homes Scheme can be a useful route if you are a first time buyer and need help making a purchase more affordable. But for most buyers, the difficult part is not just understanding the discount. It is understanding how the mortgage application fits into the process and what needs to happen first.
You may be trying to work out whether you are likely to qualify, how much you could borrow, what deposit you may need, and whether the property, the local criteria and your mortgage all line up.
That is where advice can make a real difference. Rather than trying to piece it all together on your own, you can get clear help on what the mortgage process looks like, what lenders may need and how to move forward.
By speaking with us you will get:
- Help understanding whether you may qualify
- Guidance on deposit, affordability and decision in principle
- Support with lender criteria and scheme paperwork
- Advice from first discussion through to completion
How the First Homes Scheme works
Under the current scheme, eligible first time buyers in England may be able to buy a qualifying home at a discount of 30% to 50% below market value. The home must be your main residence, and the scheme is only available in England.
To qualify nationally, buyers usually need to be:
- 18 or older, be a first time buyer
- Have a household income within the relevant cap
- Be able to get a mortgage or home purchase plan for at least half of the discounted purchase price.
Local councils can also apply additional criteria, such as local connection or key worker preference, though those local rules usually only apply during the first three months a property is on the market.
How a broker can help with a First Homes Scheme purchase
Speaking with a mortgage broker can really add value to your mortgage application because the First Homes Scheme is not just about finding a mortgage rate. It’s about making sure your eligibility, your budget and your mortgage application all work together.
We help you understand whether the scheme looks realistic for you before you spend too much time chasing a property. We can help you sense check affordability, explain what lenders may look at, and work out whether the discounted purchase price still fits your budget once the full costs are taken into account.
We also help you with the order of things. On a First Homes purchase, timing matters. The developer, council, mortgage adviser and solicitor can all be involved, and it helps to know when to get your decision in principle, when to reserve the home, and when a full mortgage application should be submitted.
Just as importantly, a broker can save time and reduce stress. Instead of trying to understand lender criteria and scheme paperwork on your own, you have someone helping you prepare the right information early and keep the process moving.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
What the process could look like
The first step is usually checking whether the scheme looks realistic for you before you get too far into a property search. That means looking at whether you’re likely to meet the first time buyer and income rules, whether any local criteria may apply and whether the mortgage side looks affordable for you.
This is where a mortgage broker can really help. Instead of trying to work out the scheme and the mortgage at the same time, you can get a clearer view of whether the numbers stack up and whether the First Homes route is worth pursuing before you commit too much time.
Once that looks promising, the next step is often a decision in principle. This helps show whether the mortgage side appears realistic and gives you a stronger idea of your budget before you move ahead with a specific property.
If you then find a suitable First Home, there is usually a stage where the property is reserved and the eligibility side of the application is worked through. This is where timing matters. Going too far too early can create unnecessary cost and stress, while waiting too long can cause avoidable delays.
A broker helps by keeping the order of things clear. You know what to do first, what information is likely to be needed, and when it makes sense to move from early mortgage checks to a full application.
Once the approval side is in place, the mortgage application can then move forward properly. From there, the process becomes much more like a normal purchase, but with the added benefit of already knowing that the scheme side and mortgage side have been lined up in the right order.
What you need to think about early
Before you move ahead, it helps to think about more than just whether the discount sounds attractive.
With First Homes Scheme Mortgage Advice, we will help you to think about whether:
- Your income and deposit fit the scheme and lender criteria
- Any local authority criteria may apply to the property
- The discounted purchase price still works for your budget
- You’re ready to get a decision in principle
- You understand the steps between reserving the home and applying for the mortgage
- You have a solicitor ready when you need one
A mortgage broker like Your Mortgage Expert can help you sense check these points early, which often makes the rest of the journey feel much more manageable.
Can key workers get help through the First Homes Scheme?
The First Homes Scheme is aimed at eligible first time buyers, but councils can set local eligibility rules for the first 3 months a property is marketed. Those rules can include local connection, key worker priority, or both.
This means key worker status can be helpful on some First Homes properties, but it is not a blanket national exemption from local rules. In some areas, the council may choose to prioritise key workers because of the work they do and local connection can sometimes be based on where you work rather than simply where you live.
So, in practice, a key worker may sometimes be able to buy a First Home without already living in the local postcode area, but only if the local authority’s criteria for that development allows for that.
That is one of the reasons broker advice can add real value. If you are looking at a First Homes property as a key worker, it helps to check the local criteria early, understand whether they are based on residence, employment or both, and make sure the mortgage side is lined up before you get too far ahead.
Why Choose Your Mortgage Expert
If you’re thinking of buying through the First Homes Scheme, you’ll want practical advice on how the mortgage side works, whether the scheme looks realistic for you, and how to move through the process with as little stress as possible.
At Your Mortgage Expert, we help first time buyers by explaining everything in plain English. We’ll help you understand what you can afford and guide you through the mortgage side of the application from first discussion through to completion.
Clients often choose us because they want:
- Clear advice they can actually understand
- Help checking whether the scheme looks realistic for them
- Support with decision in principle, lender criteria and next steps
- Time saved on research and paperwork
- Less stress during what can feel like a complicated process
Based in Salisbury, we help clients across the UK by phone, video and in person. Your choice will also be backed by strong Google and VouchedFor reviews.
Our aim is simple. To help you move forward with more clarity, more confidence and less hassle.
Need clear First Homes Scheme mortgage advice?
If you want help understanding the mortgage side of the First Homes Scheme and how to move through the process with more confidence, we would be delighted to help.