Mortgage Advice for the Your First Home scheme.
Your First Home is a government equity loan for people buying their first new-build home in England. My First Home Loan is a separate mortgage firm that focuses on giving whole of market mortgage advice to people that want to take part in the Your First Home scheme.
Join our list to find out how it all works, once the government announce the details.
Illustration only
What we think right now
The government said the scheme is expected to support a 2.5% deposit, backed by a 20% equity loan, with a mortgage on the rest. 2.5% is not a fixed sum. Put a larger deposit in if you want to see the mortgage shrink. In this picture the government share stays at 20%.
Minimum £6,250, which is 2.5%. You can put more.
The default is 30 years. You can change it.
The default is 5%. You can change it. We do not know the pricing. This is an illustration only.
Your deposit: £6,250 (2.5%)
Government equity: £50,000 (20%)
Mortgage: £193,750 (77.5%)
Mortgage
£193,750
77.5% LTV
Loan vs purchase price.
Your deposit
£6,250
2.5%
The 2.5% minimum is £6,250.
Government share
20%
£50,000
Based on a purchase price of £250,000.
Monthly cost
£1,040
5% over 30 years
Repayment mortgage.
Illustration only, from the 26 September 2026 announcement. The government has not confirmed that 2.5% is a minimum, or that the equity loan stays at 20% if you put more cash in. Help to Buy worked that way. This is not a mortgage quote. It ignores fees, income caps and local price caps. If the home is over the cap for the area, the scheme will not apply.
What we don't yet know
We do not know what cost there is to the government 20% equity loan. The monthly figure above is the repayment mortgage only. It does not include a charge for that share.
Under the old Help to Buy scheme, the equity loan was interest-free for the first five years. Payments were required after that. This scheme has not said whether it will work the same way.
The update list
Hear it when it is confirmed
The next date that matters is the Budget on 28 October 2026. We will write when the caps, the interest-free period and the timetable are actually published — not when someone guesses them.
Where things stand
Three facts, then the gaps
01
Announced
On 26 September 2026 the government named an equity loan for first-time buyers of new-build homes in England.
2.5% deposit · 20% loan
02
Not finished
Income caps, local price caps, the interest-free period and the start date are still to be set. The Budget is the next checkpoint.
Rules expected 28 Oct
03
What you can do
You cannot apply on GOV.UK yet. You can follow the announcement here, and ask this firm to write when the rules are real.
No applications open
What this site is for
Plain English on the scheme
What was said, what was not, and how that differs from Help to Buy, First Homes and a 95% mortgage.
A list, not a hard sell
We write when there is confirmed news. We do not invent rates, lenders or a launch date.
Figures, once the caps exist
Deposit, equity loan and mortgage, set against the price cap and income cap for your area.
A mortgage, when you are ready
A recommendation from an authorised adviser. Not a quote generated by this page.
New builds on the scheme
Only homes from developers who sign up will qualify. We will not pretend a home is eligible before that list exists.
A firm that is not the scheme
My First Home Loan is our name. Your First Home is the government's. The two are not the same.
The scheme is theirs. The mortgage advice will be ours.
Read the detail we are willing to stand behind, or tell us you want a conversation once the rules exist.