First-time buyer schemes 2026: the complete list
Several first-time buyer schemes are still available in 2026, but they do very different jobs and some are now closed to new applicants. Bas
4 min read · Updated 8 August 2026 · By Dwellmark Editorial
Several first-time buyer schemes are still available in 2026, but they do very different jobs and some are now closed to new applicants. Based on the verified facts below, the main options are the Lifetime ISA, Help to Buy ISA for existing account holders, First Homes in England, Shared Ownership, and in some cases Right to Buy. Help to Buy Equity Loan is closed to new applicants in England but remains open in Wales.
Lifetime ISA: bonus, limits and rules
A Lifetime ISA pays a 25% government bonus on savings, up to £1,000 a year. You can save up to £4,000 a year until you turn 50, but you must make your first payment before you are 40, and you must be 18 or over but under 40 to open the account. To use it for a first home, the property must cost £450,000 or less.
Help to Buy ISA: what still works
You can no longer open a new Help to Buy ISA. If you already have one, you can pay in up to £200 a month and get a 25% government top-up of up to £3,000 when buying your first home. You can keep paying in until November 2029 and claim the bonus until November 2030. The property price cap is £250,000, or £450,000 in London.
Help to Buy Equity Loan: England and Wales
Help to Buy: Equity Loan is closed to new applicants in England, but it is still open in Wales. For existing borrowers, there is no interest for the first five years, then 1.75% from year 6, plus a £1 monthly management fee.
First Homes: discount and income caps
Under First Homes in England, first-time buyers can buy a home at 30% to 50% below market value. The income cap is £80,000 a year, or £90,000 in London.
Shared Ownership: shares, rent and staircasing
With Shared Ownership, you buy a share of between 10% and 75% of the home value, although 25% to 75% is usual, and you pay rent to a landlord on the rest. For new-build homes, the rent limit is 3% of the value of the landlord share, and most landlords charge 2.75%. MISSING: verified facts on staircasing rules.
Right to Buy: discounts and the November 2024 caps
Right to Buy eligibility starts after three years as a public sector tenant, and the years do not have to be consecutive. For houses, the discount is 35% after 3 to 5 years, rising by 1% for each extra year. For flats, it is 50%, rising by 2% for each extra year. The maximum discount is the lower of 70% of the property value or the regional cap. From 21 November 2024, the caps are: London £16,000, except Barking & Dagenham and Havering at £38,000; South East £38,000; Eastern £34,000; South West £30,000; North West and West Midlands £26,000; Yorkshire & Humber and East Midlands £24,000; North East £22,000.
Key facts
| Fact | Status |
|---|---|
| Lifetime ISA: the government adds a 25% bonus to savings, up to £1,000 per year; you can save up to £4,000 a year until you turn 50, and you | verified |
| Help to Buy ISA: you can no longer open a new account. Existing savers can pay in up to £200 a month and receive a 25% government top-up (up | verified |
| Help to Buy: Equity Loan is closed to new applicants in England but still open in Wales. Existing borrowers: no interest for the first 5 yea | verified |
| First Homes (England): first-time buyers can buy a home at 30% to 50% below market value; income cap £80,000 a year (£90,000 in London). | verified |
| Shared Ownership: you buy a share between 10% and 75% of the home value (usually 25%-75%) and pay rent to a landlord on the rest. For new-bu | verified |
| Right to Buy: you are eligible after 3 years as a public sector tenant (it does not have to be consecutive). Houses: 35% discount after 3-5 | verified |
Source: GOV.UK, Lifetime ISA — Guidance checked August 2026
Source: GOV.UK, Help to Buy ISA — Guidance checked August 2026
Source: GOV.UK - Help to Buy Equity Loan — Guidance checked August 2026
Source: GOV.UK - First Homes Scheme — Guidance checked August 2026
Information and review status
This article provides general information only and is not professional advice. It was last reviewed and updated on 2026-08-08 using the sources cited in this article. Unless expressly stated otherwise, it has not been independently reviewed by a suitably qualified external professional. Laws, regulations, guidance, prices and market conditions can change, so you should verify information relevant to your circumstances before relying on it.Generated from dossier first-time-buyer-schemes-2026. Review before publishing.
Sources
- GOV.UK, Lifetime ISA - Guidance checked August 2026
- GOV.UK, Help to Buy ISA - Guidance checked August 2026
- GOV.UK - Help to Buy Equity Loan - Guidance checked August 2026
- GOV.UK - First Homes Scheme - Guidance checked August 2026
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