Who Is Eligible For "Your First Home" Scheme?

Am I eligible?

On what was confirmed at the Budget on 28 October 2026, you will need to:

• be a first-time buyer;
• have a household income below £110,000, or £140,000 in London;
• buy a new build home in England from a developer signed up to the scheme; and
• buy within the local price cap for the area.

Price caps vary widely. Your First Home caps are set for each local authority area: £375,000 in Reading and £220,000 in Middlesbrough, for example, with £650,000 in inner London and £500,000 in outer London.

The full rules, including exactly how "first-time buyer" and household income will be defined, are still to come. If the scheme follows Help to Buy, expect the home to have to be your only residence and an affordability check before you can proceed.

Check our other News and commentary for more details on this and other home buying schemes.