Could home ownership be closer than you think?

For many first-time buyers, saving a deposit is the biggest barrier to owning a home. Rising rents and living costs can make getting onto the property ladder feel out of reach, even when monthly mortgage repayments may be affordable.

That’s why the Government’s proposed Your First Home scheme is already generating significant interest.
Expected to be announced in full at the Autumn Budget, the scheme could help eligible first-time buyers purchase a new-build home with:

• A deposit of just 2.5%*
• A 20% Government-backed equity loan*
• Access to eligible new-build homes across England*
*Further eligibility criteria to be confirmed

What could this mean for buyers?

Based on information released so far, a £350,000 home could require:

• Buyer’s deposit: £8,750
• Government equity loan: £70,000
• Mortgage required: £271,250

For many aspiring homeowners, saving a 2.5% deposit may feel far more achievable than finding a traditional 10% deposit of £35,000.

Why are buyers excited?

A lower deposit requirement could help first-time buyers:

• Get onto the property ladder sooner
• Reduce the amount needed in savings
• Access modern, energy-efficient new-build homes
• Stop delaying their homeownership goals

While full details are still to be confirmed, anyone considering the scheme should seek independent mortgage advice once more information becomes available.

Don't wait for the Budget

Although applications are not yet open, now is the perfect time to start exploring your options.

At The Lower Acre in Horton Heath, we currently have a range of one, two, three and four-bedroom homes available, including selected properties ready to move into before Christmas.

By viewing homes now, understanding your affordability and identifying the property that’s right for you, you’ll be in a stronger position should the Your First Home Scheme launch following the Budget announcement.

Start your homeownership journey today

Whether you’re actively searching for your first home or simply exploring your options, now is the ideal time to plan ahead.

Visit The Lower Acre, tour our show homes and speak with our friendly team about your homeownership goals. If the Your First Home scheme launches as anticipated, you’ll already be one step closer to making your move.

Book a viewing today and discover how close your first home could be.