If you’re a first-time buyer struggling to get on the housing ladder, there’s a government-backed scheme that could save you tens of thousands of pounds — and hardly anyone seems to know about it.
It’s called the First Time Buyer Scheme, and if you meet the criteria, you could get 30% off the price of a brand-new home — in some cases, even up to 50%. Here’s how it works and how you can take advantage.
What Is the First Time Buyer Scheme?
The First Time Buyer Scheme is designed to help people purchase a new build home at a discounted price. If your total household income is less than £80,000 and it’s your first time buying a property, you could qualify for a 30% reduction on the asking price — no complicated hoops to jump through.
For example:
- House price: £200,000
- Discount: 30% (£60,000)
- You pay: £140,000
If you’ve saved a deposit — say, £20,000 — you could end up with a mortgage as low as £120,000. That’s often less than what many people currently pay in rent.
How to Get Up to 50% Off
If you’re a key worker such as a nurse, teacher, or doctor, your local council may offer an even bigger discount — in some cases up to 50% off.
That means:
- House price: £200,000
- Discount: 50% (£100,000)
- You pay: £100,000
Your mortgage repayments could be a fraction of your current rent, making home ownership more affordable than ever.
How to Apply
- Find a new build development in your area.
- Contact the housebuilder’s sales team — they know the scheme inside out.
- Tell them your circumstances (first-time buyer, income, and whether you’re a key worker).
- Ask about your local council’s First Time Buyer Scheme rules — these can vary depending on the area and local housing needs.
The Catch: Resale Rules
When you eventually sell the property, you’ll have to sell it at the same percentage discount you bought it for. For example, if you got 30% off, the next buyer will also get 30% off the market value.
While this limits capital growth, it’s still a fantastic way to get onto the housing ladder with far less upfront cost.
Why This Opportunity Won’t Last Forever
Government schemes like this are expensive to run. There’s no guarantee they’ll be around forever, so if you’re eligible, it’s worth acting sooner rather than later.
For many people — especially younger buyers — this could be the easiest route to home ownership in decades.
If you’ve written off the idea of owning your own home, the First Time Buyer Scheme might change your mind. With discounts of 30%–50%, you could own a brand-new property for significantly less than market value and start building a secure future.
If you think you might qualify, start by checking new build developments in your area and speaking directly with their sales teams. Even a short conversation could uncover an opportunity to save tens of thousands of pounds on your first home. Don’t wait — the sooner you start, the sooner you could have the keys in your hand.