If you're a first time buyer looking for a new build home, great news! The government have announced the new Your First Home scheme to help first-time buyers purchase a new-build home with a smaller deposit and mortgage.
This means it could soon be even easier for you to get a stunning Avant home as your first home!
Eligible buyers will be able to purchase a home using:
a deposit of at least 2.5% of the purchase price
a repayment mortgage from a participating lender
a government equity loan worth 20% of the purchase price, interest free for 5 years
The scheme is expected to open for applications in February 2027. More information is expected to be released by the government before applications open. For full information from the government, see here: Your First Home
To be eligibe for the scheme, buyers will typically need to:
be a first-time buyer
buy a new-build home in England, within the relevant local price cap
use the property as their main home
have a total annual household income of £110,000 or less
be able to obtain a mortgage from a participating lender
Full eligibility rules will be published by the government before applications open.
Selected Avant homes will be available to buy with the Your First Home scheme. The scheme will also have property price caps based on the local authority area. A full list of price caps by local authority is expected from the government shortly.
Applications are not yet open, but pre-registration is expected to open before the end of the year, which will provide further information on your eligibility and price caps in your area.
Full guidance, terms and conditions are expected to be released before the scheme opens.
In the meantime, why not find an incredible development near you, and get in touch to work out which Avant home could your first home?
