First Homes

 

First Homes Scheme for First Time Buyers:

A government initiative designed to provide local houses for first-time buyers, by offering new builds with a discount of at least 30% compared to market prices.

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What is the First Homes scheme?

The First Homes scheme is a government initiative designed to provide local houses for first-time buyers, getting them on the property ladder by offering new builds with a discount of at least 30% compared to market prices.

Please note that Linden Homes does not currently have any homes available through this scheme, but this may change in the future.

  • This discount will apply to the First Home forever.
  • This means the same percentage discount as applied to the original sale will be passed on to the new buyer every time the property is sold and the seller of the First Home will only receive the discounted amount, never the 100% market value.

Find out here which of our developments are offering the First Homes Scheme.

 

First Homes: How it works

  • Deposit amount required: A minimum of 5% of the discounted purchase price. It is dependent on the property and mortgage eligibility from participating mortgage lenders.
  • Maximum price of the property: The maximum price of a First Home, after the discount has been applied, will be £250,000 (£420,000 in London). Local authorities can set lower price caps.
  • Ownership: Your First Home belongs to you, so you'll have full ownership. You can decorate and update your First Home as you wish, in keeping with planning rules, any leasehold restrictions that apply, and the terms of your mortgage.
  • Requirements: You must be a first-time buyer earning less than £80,000 per year (£90,000 in London). A mortgage will need to cover at least 50% of the purchase price. Councils can apply additional criteria such as a local connection or being a key worker.
 

Am I eligible to buy a First Home?

  • All purchasers must be a first-time buyer, even if more than one person is buying the home.
  • You will need to meet any local connection criteria, or key worker restrictions, set by the local authority.
  • Your household income must be no more than £80,000 in England, with the exception of London which is £90,000.
  • You will need at least a 5% deposit.
  • You will need to be able to obtain a mortgage for at least 50% of the home.
 

Frequently asked Questions

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

Yes. If the First Home is being bought by more than one individual, all purchasers must be first-time buyers, in keeping with the definition of a first-time Buyer as set out in paragraph 6 of schedule 6ZA of the Finance Act 2003 for the purposes of Stamp Duty Relief.

Can one member of a couple buy the home on their own, and would this mean the other does not have to be a first-time buyer?

Couples who are married or in a civil partnership or living together should apply jointly to the First Homes scheme. In exceptional circumstances, where the mortgage lender will only lend to one applicant (e.g. because one party has an adverse credit history) the local authority can consider approving on a case-by-case basis, but this is still subject to both parties meeting the first-time buyer criteria. Both parties would therefore need to sign the first-time buyer declaration.

Is anyone exempt from having to meet the local connection criteria?

Yes. Members of the Armed Forces and recent veterans (who have left the Armed Forces within the past five years) are exempt from needing to meet any local connection or key worker restrictions set by local authorities.

These restrictions will also not apply to bereaved spouses and civil partners of servicemen and women whose deaths have been wholly or partly caused by their service. In such cases, all other eligibility criteria, including first-time buyer status and the household income caps, would still have to be met.

For more information about the First Homes scheme, including detail on the application process, please speak to our sales teams. If you're interested, you can find out more information about the First Homes scheme.

More ways we can help you move

Help to Buy

Exclusively for first-time buyers! Your move could be more affordable than you think - buy a new home between £186,100 and £437,600, depending where you live, with just a 5% deposit!

Home Exchange

Stuck in a chain or have a home to sell? We could buy your current home when you buy one of ours with Home Exchange.

Smooth Move

Have a home to sell? We could help sell it for you, so you can buy one of ours with Smooth Move! We could even save you time and money.

Introduce a Friend

Introduce your friends to Linden Homes and if they buy from us we’ll give you £500* to say thank you.

Help to Buy

Exclusively for first-time buyers! Your move could be more affordable than you think - buy a new home between £186,100 and £437,600, depending where you live, with just a 5% deposit!

Home Exchange

Stuck in a chain or have a home to sell? We could buy your current home when you buy one of ours with Home Exchange.

Smooth Move

Have a home to sell? We could help sell it for you, so you can buy one of ours with Smooth Move! We could even save you time and money.

Introduce a Friend

Introduce your friends to Linden Homes and if they buy from us we’ll give you £500* to say thank you.

Still haven't found what you're looking for?

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Terms & Conditions: First Homes is subject to status and available on selected properties in England only. Speak to your Sales Consultant for further details. This offer is not available in conjunction with any other promotion

All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.