First Homes
What is the First Homes scheme?
The First Homes scheme is a buying scheme designed to help local first-time buyers get on the property ladder by offering homes at a 30% discount compared to the market price. With this new home buying scheme, the discounts will apply to the homes forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.
Who is eligible for the First Homes scheme?
To take advantage of this new home buying scheme, Gleeson recommends seeking independent financial and legal advice, however, the following core criteria must be met.
- Be a first-time buyer (applicable to all purchasers)
- All buyers’ joint gross income must not exceed £80,000 per year.
- The home purchased through the First Homes Scheme cannot exceed the value of £250,000 after the discount has been applied. Maximum price may alter based on local council criteria.
- Buyers must meet all local eligibility criteria set by the local authority at the time of purchase.
- Buyers must provide proof that the property purchased using the First Homes scheme is the only/main residence during ownership of the property.
The First Homes Scheme made our home even more perfect and affordable. Getting 30% off the price of our home meant we could afford something we didn’t think was possible at our age. It gave us the boost we needed to get on the property ladder.
How do I apply for the First Homes discount?
Start by choosing from one of our First Homes properties and check you meet the eligibility criteria with our Sales Executive. You’ll then need to secure a mortgage agreement in principle and complete the application form with us, which will be submitted to the local authority for approval. Once approved, you can move forward with your new home-buying process and take the exciting next step toward owning your first home.
Where can I find a home with the First Homes scheme?
The First Homes scheme is currently available on the following new build development:
Poppy Fields, Horncastle
Please note: First Homes properties may not always be available at the time of your enquiry. For the most up-to-date information, please speak with your Sales Executive.
First Homes FAQs
The First Homes scheme is designed to support local first-time buyers get onto the property ladder. The discount applied to your home will remain in place permanently, ensuring that future buyers and the wider community continue to benefit each time the property is sold.
Buying a new-build home with the First Homes scheme means you’ll have full ownership.
Yes, you’ll need a mortgage to buy through the First Homes scheme. One of the key eligibility requirements is that you can secure a mortgage for at least 50% of the discounted purchase price. This ensures the scheme supports buyers who need help getting onto the property ladder. Please speak to a Gleeson Sales Executive for more information.
Yes, if you’re buying under the First Homes scheme with a partner, both purchasers must qualify as first-time buyers (i.e., neither can have owned a home before. Additional local eligibility criteria may also apply, as set by the local authority.
Want to find out more?
With the First Homes discount, it could be even more affordable to take your first steps onto the property ladder.
To find out more about the First Homes scheme, please speak to a Gleeson Sales Executive.
The First Homes scheme is available to first-time buyers only, enabling them to buy a home for 30% to 50% less than the market value. The discount is set by local authorities and the scheme is subject to eligibility criteria (the core criteria is set nationally with additional requirements imposed locally). It is only available on selected plots and developments and cannot be used in conjunction with any other Gleeson scheme, offer or incentive unless specifically authorised by Gleeson in its absolute discretion (and subject to lender approval). The scheme may be withdrawn at any time if required by or agreed with the local authority. Please note that First Homes are a type of affordable housing and will be denoted as such on Gleeson site plans. Please speak to your Sales Executive or visit the government website for further information on the First Homes scheme. You should seek independent legal and financial advice when purchasing a property using the First Homes scheme.