As a first-time buyer, a new support scheme to be aware of is the First Home Scheme. In January 2023, the price caps in this new shared equity scheme increased meaning more people will be eligible in their local authority area.
This increase in shared equity price caps, along with the Help-to-Buy extension and the increased Central Bank lending rules to 4 times your gross income, is positive news for first-time buyers looking to start the journey of buying a newly built home.
These simple graphics will help you understand these new price caps, and how the First Home Scheme could work for you.
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