- Minimum discount off market value
- 30%
- Maximum price after discount, outside London
- £250,000
- Maximum price after discount, in London
- £420,000
- Household income cap, outside London
- £80,000 a year
- Household income cap, in London
- £90,000 a year
- Minimum age
- 18
What it is
New-build homes sold to first-time buyers at 30% to 50% below market value, and the discount doesn’t disappear when you sell: the next buyer gets the same percentage off, forever. In exchange there’s a household income cap (£80,000 a year, £90,000 in London) and a maximum price after the discount, so it’s aimed squarely at people who’d otherwise be priced out entirely, not a discount on any new build.
Source, and a plain disclaimer
These figures are GOV.UK, First homes scheme’s own published terms, last checked on 5 September 2026, and may have changed since. Check the official page before relying on any of them, and speak to a whole-of-market broker or your local authority about whether you’re actually eligible. This is not financial advice.
Return to Hidden gems for first-time buyers, or see all four free tools.