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, by getting them on the property ladder, by offering new builds with a discount of at least 30% compared to market prices.

  • 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.

See below 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.

For further information on the scheme please download the First Homes Customer Guide.

 

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.

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Deposit Unlock

Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours 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?

First Homes is available on our selected new build homes only, subject to contract and eligibility criteria. If you are purchasing through the First Homes scheme please note that you are required to meet the eligibility criteria under the scheme and to be issued with Authority to Proceed by the local authority. Please note that the Authority to Proceed is valid for three months from issue within which period exchange of contracts must have taken place. If Authority to Proceed has not been issued before reservation, then this reservation is subject to you meeting the eligibility criteria, a First Homes Application Form being submitted promptly to the local authority and an Authority to Proceed being provided. In the event that either (i) you do not provide the information required to submit the First Homes Application Form within twenty (20) Business Days of the reservation date, or (ii) the Authority to Proceed is not issued by the local authority within twenty (20) Business Days of receipt of the fully completed First Homes Application Form or (iii) the local authority confirms that an Authority to Proceed will not be issued or shall be withdrawn prior to exchange of contracts, then the reservation will be automatically be cancelled and the reservation fee shall be returned in full. To be eligible for First Homes you must meet the following criteria: 1: All purchasers must be a first-time buyer, even if more than one person is buying the new home from us. 2: You will need to meet any local connection criteria, or key worker restrictions set by the local authority. 3: Your household income must be no more than £80,000 in England, with the exception of London which is £90,000. 4: You will need at least a 5% deposit. 5: You will need to be able to obtain a mortgage for at least 50% of the new home to be purchased from us. We may also require evidence of your financial ability to proceed with the purchase of a new home from us. The maximum price of a new home covered by First Homes, after the discount has been applied, will be £250,000 (£420,000 in London). Local authorities can set lower price caps. The new home is sold at a discount of at least 30%. The discounts will apply to the new home forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is subsequently sold. First Homes is only available on selected developments and selected plots. Please contact the sales consultants for further information regarding First Homes and the application process. First Homes is a government scheme and is subject to the government’s terms for the scheme. This offer is not to be used in conjunction with any other offer, discount, promotion or scheme. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Subject to individual lender terms and conditions. Our usual reservation and sales terms and conditions also apply. Please speak to one of our sales consultants for more details.

References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.

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.