Buying your first home doesn't always mean saving a huge deposit and taking out a traditional mortgage.
Today, there are a range of first-time buyer schemes designed to help make homeownership more accessible, from deposit-boosting savings products and low-deposit mortgages to innovative new-build buying schemes.
Understanding how these options work can help you find a route that suits your circumstances and could even bring your homeownership goals closer than you think.
In this guide, we'll explain the main schemes available, who they're designed for and how they could help you take your first step onto the property ladder.
First-time buyer schemes are initiatives designed to help people purchase their first property. They can reduce the amount of deposit needed, lower mortgage costs, provide savings incentives or create alternative routes to homeownership.
Many schemes are aimed specifically at buyers who may find it difficult to save a large deposit while renting or who need extra support to meet mortgage affordability requirements.
Whether you're considering a new build home or a resale property, understanding your options can help you make an informed decision and potentially buy sooner than you thought possible.
Generally, you'll be considered a first-time buyer if you've never owned a residential property in the UK or abroad.
Lenders and scheme providers may have additional eligibility requirements, such as:
Eligibility varies between schemes, so it's important to check the specific requirements before applying.
For many people, saving a deposit is one of the biggest challenges when buying a home. First-time buyer schemes can help by:
If you’re currently saving, we’ve got a selection of guides to help you on your journey.
Find out how much deposit you need, the average first‑time buyer deposit, and the best ways to save faster.
Learn how to set your homebuying budget, from deposits and mortgages to extra costs, with monthly repayments explained.
Learn how mortgages work, what credit score you need, how lenders assess you, and the steps to get mortgage‑ready as a first‑time buyer.
There are several first-time buyer schemes available, each designed to support buyers in different circumstances.
Many developers and mortgage providers now offer dedicated new build schemes designed to help buyers access brand-new homes with greater flexibility and affordability. Here are some of the options.
Not every scheme is linked to a new build property. There are several other options that could help buyers get onto the property ladder.
The Help to Buy home equity loan scheme helped thousands of buyers purchase new-build homes with a smaller deposit.
Under the scheme, buyers provided a minimum 5% deposit, secured a mortgage and received an equity loan from the government.
The Help to Buy Equity Loan scheme closed to new applications in 2022 and is no longer available.
However, many alternative first-time buyer schemes now exist, including New Build Boost, Own New, Shared Ownership and First Homes.
As a result, buyers looking for help to buy home equity loan alternatives still have several options available.
The right scheme will depend on your individual circumstances, including:
Before making a decision, it's worth speaking to an independent mortgage advisor who can assess your circumstances and help you compare the options available. If you'd like some support, we can put you in touch with our trusted panel of independent financial advisors, who can guide you through your choices and help you find the right solution for you.
It's also worth reviewing your affordability, understanding your borrowing potential and researching the developments that interest you.
Explore your options or speak to an expert to start your first time buyer journey with confidence
Buying your first home doesn't have to feel overwhelming. With a range of first-time buyer schemes available, there are now more opportunities than ever to take your first step onto the property
Explore our first-time buyer hub, browse our first-time buyer guides, learn from real customer stories and speak to a member of the Persimmon team to discover which schemes could help make your homeownership goals a reality.
These stories explore how couples navigated the buying process and found a home they love that suited both their lifestyle and future plans.
Learn how to set your homebuying budget, from deposits and mortgages to extra costs.
Understand mortgages, credit scores, lender checks and how to get mortgage‑ready as a first‑time buyer.
Find out how much deposit you need, the average first‑time buyer deposit, and the best ways to save faster.
Discover how to buy your first home faster with expert help, flexible options and tailored support.
Learn to budget, search and view homes, compare options, and make an offer on your first home.
Learn what completion day means and what happens between offer acceptance and completion.
First-time buyer guides covering everything you need to buy with confidence.
Explore real stories from first-time buyers using schemes to find their dream home and settle in.
Choose your ideal location, explore our homes, and find a place you’ll love.
