Get mortgage happy. 020 8517 1141

31 May 2021

First Home Schemes

The First Homes Scheme is a new Government initiative that starts on 28th June 2021, however, seeing as the homes that qualify for these schemes are still yet to be built it is unlikely we will see any completions until 2022.

The scheme aims to allow first-time buyers the ability to purchase new build homes at a discount of 30% but depending on the council could be up to 50% of the purchase price. The primary objective is to help those unable to afford properties in their local area to purchase and remain living near friends, family, or close to where they work.

The maximum purchase price across England will be £250,000 rising to £420,000 in London boroughs. To qualify both applicants will need to have never owned a property before and have a maximum income of £80,000 (£90,000 in London). Although the scheme is open to all that qualify, those in certain professions such as key workers and serving armed forces personnel will take priority.

From a mortgage perspective, the Government has encouraged lenders to support this scheme offering them assurances similar to the help to buy scheme. This means lenders are likely to offer lower interest rates drastically reducing the cost of ownership for these properties. I will of course let you know when these properties start to become available and provide more information on your mortgage options.

For more information contact us today talk to one of our mortgage specialists!

First Home Schemes

Privacy notice

HOME OF MORTGAGES will be what is known as the ‘controller’ of the personal data you provide to us. We only collect basic personal data about you which does not include any special types of information or location-based information.

Why do you need my data and what will it be used for?

We need to know your basic personal data so we can make contact with you and respond to your message, request or query. All the personal data we process is processed by our staff in the UK.

Who is my data shared with?

Your data will only be shared with third parties if this is necessary to respond to your request. If this is the case, we will seek your permission before passing on your details.

How long do you keep my data for?

We may store your data for up to six years past the end of any business relationship, after which time it will be securely destroyed. If you would no longer like us to process your data at any time, you have the right to object to processing of your data. To do this, please contact

What are my rights?

You have the right to object to the processing of your data. You also have the right to request access to your data at any time. You have the right to rectification and/or erasure of personal data or restriction of processing. If you wish to raise a concern related to how we have handled your personal data, you can contact us to have the matter investigated at If you are not satisfied with our response or believe we are processing your personal data not in accordance with the law, you can complain to the information commissioner’s office: