On 26 September 2026, the government announced plans for Your First Home, an equity-loan scheme for first-time buyers in England. The announcement said fuller details would follow at the Budget. It was not an invitation to assume that a particular buyer or property already qualified.
The outline announced
The government expected the scheme to support deposits of 2.5%, alongside a government-backed equity loan of 20%, for new-build purchases from participating developers. It also described an initial interest-free period for the equity loan. These were announced expectations, not a personalised borrowing offer.
Details that matter before committing
The announcement said household income limits and local property price caps would apply, with detail to follow. Costs and implementation dates were also deferred. Buyers should check the final rules, opening date and participating properties before relying on the scheme in a purchase budget.
Questions to keep ready
Ask how the equity loan would be valued and repaid, what charges would apply after any introductory period, and what happens if you sell or remortgage. Keep those questions separate from the mortgage lender’s affordability assessment. A smaller deposit does not by itself show that the combined commitments will be manageable.
Treat this as an announcement record
This archive article summarises the September announcement. It does not claim that applications are open or guarantee savings compared with another mortgage. Check the latest official scheme guidance and obtain advice on the actual terms before paying a reservation fee or exchanging contracts.
Source: Ministry of Housing, Communities and Local Government, 26 September 2026. Government information used under the Open Government Licence v3.0.
Editorial review: 15 October 2026. This original Property Perpetuity guide replaces the imported text; the original archive publication date is retained.