First Homes

What is the First Homes scheme?

Buying a new home in your local area isn't always easy for first-time buyers, which is why the First Homes scheme was created.

First Homes are just like any other property, but they're available at a significant discount of at least 30% on the market value. With the discount applied, the maximum price for a First Home is £250,000 (£420,000 in London). However, local authorities can set lower price caps.

How does it work?

Visit the house builder selling First Homes to see the first-time buyer homes for sale.
Check your eligibility for the home you'd like to buy. If you're eligible, you'll need to complete a First Homes application to the local authority as part of the first-time home buyer scheme.
You can then pay the fee to reserve your chosen home. This will be refunded if your application is unsuccessful.
The local authority will check your application.
You can apply for your mortgage when approval is received.
Our Sales Consultants will guide you through the rest of the sales process

Am I eligible to buy a First Home?

Even when more than one person is buying the home, all purchasers must be first-time buyers.
Local connection criteria and key worker restrictions outlined by the local authority should be met.
Household income must be less than £80,000 in England, except for London which is £90,000, to purchase a First Home.
A deposit of at least 5% is needed.
A mortgage should be secured for at least 50% of the home.

Download the First Homes Customer Guide for further information.

Frequently asked questions about the First Homes scheme

If I’m buying my first home with a partner, do they have to be a first-time buyer too?

When a First Home is being bought by more than one person, all purchasers need to be first-time buyers.

We use the definition of a first-time buyer stated in paragraph 6 of schedule 6ZA of the Finance Act 2003. This is done for Stamp Duty Relief purposes.

Can one member of a couple buy the home on their own if the other is not a first-time buyer?

If you're in a couple (whether married, in a civil partnership or living together), you should apply jointly to the First Homes scheme.

If the mortgage lender will only lend to one applicant (e.g. because one party has an adverse credit history), the local authority may approve first-time buyer help through the scheme. Keep in mind that both parties will still need to meet the first-time buyer criteria, which means they will need to sign the first-time buyer declaration.

Is anyone exempt from having to meet the local connection criteria for the First Homes scheme?

There are exceptions for members of the Armed Forces and recent veterans (who have left the Armed Forces within the past five years). If this applies to you, you won't have to meet local connection or key worker restrictions outlined by local authorities.

Bereaved spouses and civil partners of servicemen and women whose deaths have been wholly or partly caused by their service will also be exempt. However, all other eligibility criteria will need to be met, such as first-time buyer status and the household income caps.

To learn more about buying new build homes for sale using the First Homes scheme, please speak to our sales teams. They can give you more details about the application process and what to expect. If you're interested, you can find out more information about the First Homes scheme.

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With Deposit Unlock you could purchase a new Bovis Home up to the value of £750,000 with just a 5% deposit!

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Smooth Move is our scheme for all existing property owners to save time and money. We deal with the estate agents to sell your home and even pay the estate agents’ fees!

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TERMS AND CONDITIONS

₸Own New Rate Reducer is only available on selected new build homes at participating developments. Speak to a Bovis Homes local sales consultant for more information. The Own New Rate Reducer scheme cannot be combined with other offers or scheme. Participating lenders only. Own New Rate Reducer is available at the lender’s discretion. Mortgages up to a maximum value of £1,000,000 only. Rate reduction and any saving quoted for illustration is for the fixed, introductory period of the mortgage only (usually 2, 3 or 5 years but this will depend on your individual mortgage). Your interest rate and mortgage payments will increase (and any savings will end) after the fixed, introductory period – please consult your independent financial advisor and/or your lender. See ownnew.co.uk for more information about the Own New Rate Reducer scheme. Bovis Homes is not regulated by the Financial Conduct Authority (FCA) and cannot offer mortgage advice. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. You should confirm with your independent financial advisor that the Own New Rate Reducer Scheme, and any mortgage deal available with the benefit of the scheme, is suitable for you, in your individual circumstances. The Own New Rate Reducer Scheme is an independent third party scheme. If you are eligible for the scheme, then Bovis Homes will make a cash payment after completion of typically from 3% of the purchase price of the property to Own New, which will be passed onto the relevant participating lender (after deduction of Own New's commission) so that they can offer a mortgage product at a rate that is subsidised from their usual product range. Rate reductions, rates and savings are subject to availability of the Own New scheme. Any rates or savings quoted are examples provided for illustration only and you should not rely on them. The actual reduction, rate and saving you achieve will depend on your individual mortgage offer. References to reductions and any example rates and savings are as compared to the same mortgage without use of the Own New scheme over the fixed, introductory period of the mortgage. Mortgage offers will be made at the lender’s discretion and in line with lender’s criteria. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Terms and conditions apply https://ownnew.co.uk/terms-and-conditions/

First Homes

First Homes: The scheme to help first-time buyer

What is the First Homes scheme?

How does it work?

Am I eligible to buy a First Home?

Frequently asked questions about the First Homes scheme

Start your search today

More ways we can help you move

Deposit Unlock

Smooth Move

Introduce a friend

Home Exchange

Deposit Unlock

Smooth Move

Introduce a friend

Home Exchange

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