Help for First Time Buyers: Tips and Advice

Here’s some essential advice and first time buyer help for those taking their first step onto the property ladder. Buying your first property is exciting, nerve-wracking and a major step towards independence. But many people aren’t sure where to start, and it’s easy to see why. From deposits and mortgages to legal fees and surveys, there’s a lot to get your head around.

If you’re buying your first home in 2026, the good news is that there are still several first-time buyer schemes in the UK designed to make buying more affordable. This guide explains what help you can get as a first time buyer, which buying schemes are still open, which have closed, and how to prepare financially so you can buy with confidence.

Top tips for first-time buyers

Trying to get a leg up onto the property ladder? These practical tips can help first time buyers stay focused and avoid common mistakes:

• Make the most of government-backed schemes
• Work out your finances early
• Compare mortgage options rather than accepting the first deal
• Be flexible with your search area
• Decide what type of property you really need
• Save consistently for your deposit
• Budget for extra costs beyond the purchase price
• Choose a solicitor with relevant experience

Good preparation is one of the most effective forms of financial help for first time buyers. The more you understand upfront, the smoother the process tends to be.

Government help for first time buyers in 2026

If you’re buying your first home in 2026, these are the key first-time buyer schemes in the UK that are still available or expected to continue, depending on eligibility criteria and location.

First Homes scheme

The First Homes scheme is one of the most significant forms of government help for first time buyers in England. It allows local first-time buyers to purchase a new-build home at a discount of at least 30% below market value. Some councils can increase this maximum discount to 40% or even 50%, depending on local affordability needs.

To qualify, you must:

• Be a first-time buyer
• Earn under £80,000 (£90,000 in London)
• Use a mortgage to buy the property
• Buy a home within the local price cap based on the price of the home

When the property is sold in the future, the same percentage discount must be passed on to the next first-time buyer. This helps keep homes affordable long-term, making the First Homes scheme a sustainable home ownership scheme rather than a short-term incentive.

Shared ownership

Shared ownership allows you to buy between 25% and 75% of a property and pay rent on the remaining share at a reduced rate. Over time, you can buy more shares in the property through a process known as staircasing, potentially owning 100%.

You may be eligible if:

• Your household earns under £80,000 (£90,000 in London)
• You can’t afford a suitable home on the open market
• You have a deposit, often as low as 5% of the share you’re buying

Shared ownership is often a practical answer to the question, “Is a 30k salary enough to buy a house?” For many buyers, shared ownership schemes make home ownership achievable far sooner than buying outright.

Right to Buy (council tenants)

Right to buy allows eligible council and some housing association tenants to purchase their home at a discount.

To qualify, you’ll usually need to:

• Have been a public-sector tenant for at least three years
• Live in a self-contained property
• Use the property as your main home

This remains one of the most valuable forms of council help for first time buyers, particularly for long-term renters and key workers looking to turn rent payments into mortgage repayments.

Help for first time buyers & stamp duty

First-time buyers benefit from stamp duty relief, meaning no stamp duty is payable on properties up to £300,000.

To be eligible, neither you nor anyone you’re buying with can have owned a property before, anywhere

There’s good news for a first-time buyer when it comes to stamp duty. First-time buyers don’t need to pay any tax up to the first £300,000 on their home.

So, when do you qualify as a first-time buyer? To be eligible, this must be the first home both you and whoever you’re buying with have owned.

Stamp duty isn’t technically a ‘scheme’, rather, a helping hand to get buyers on the property ladder. Use a stamp duty calculator to find out how much you’ll be paying if buying a home over £300,000.

It’s known as Land Transaction Tax in Wales, and Land and Buildings Transaction Tax in Scotland.

Exploring first time buyer mortgages

Saving for a deposit is often the biggest challenge. Most buyers aim for between 5% and 20% of the purchase price, though a larger deposit usually unlocks better mortgage deals.

Many lenders now offer first-time buyer mortgages designed for lower deposits and stable incomes, so it’s worth exploring your options carefully.

Types of mortgage loans

First-time buyers can choose from several mortgage types, each suited to different needs and risk levels.

Variable (tracker or discounted) mortgages

A variable mortgage means your interest rate can go up or down over time. Tracker mortgages follow the Bank of England base rate, plus a set percentage, while discounted mortgages offer a temporary reduction off the lender’s standard variable rate.

Fixed-rate mortgages

A fixed-rate mortgage keeps your interest rate the same for a set period, usually 2, 3 or 5 years, helping you budget with confidence.

Cashback mortgages

With a cashback mortgage, the lender gives you a lump sum when you complete on your home, which can help cover upfront costs.

Offset mortgages

An offset mortgage links your mortgage to a savings account, reducing the interest you pay and potentially shortening the life of the loan.

Capped-rate mortgages

A capped-rate mortgage is a variable deal with a limit on how high the interest rate can rise, offering flexibility with added protection.

Alternative ways to get on the property ladder

Some buyers use additional support to improve affordability, including:

• Buying with friends or family
• Guarantor mortgages backed by a family member
• Family offset mortgages using relatives’ savings

These options can help where standard affordability checks fall short.

The mortgage application process explained

Lenders want to be confident you can afford repayments now and in the future, even if interest rates rise. They’ll assess your income, outgoings, debts and job stability.

It’s usually best to apply once you’ve been in stable employment for at least six months. Always be honest on your application, as inaccuracies can delay or derail the process.

Keep in mind that failing to make mortgage payments could result in your home being taken back.

First time buyer advice for getting a mortgage

There are ways to make getting a mortgage for the first time easier. While a lot of the press surrounding the subject matter is negative, it doesn’t have to be this way!

When it comes to improving your chances of getting a mortgage, these tips can help:

• Check your credit rating – a good report makes all the difference
• Have mortgage finance in place before you seriously look for a property
• The size of the property deposit affects this figure as does the length of time the mortgage is for
• Deduct any expenses and monthly outgoings from your salary after tax – that’s the amount you can afford

It may sometimes feel as though the hassle isn’t worth it. But, remember, when renting, you’re using your hard-earned cash to pay off someone else’s mortgage. Why not pay off your own instead?

Help for first time buyers: Location

Location can increase property value! But, far too often, finding the right home in the right location is extremely difficult.

When it comes to choosing where to live, many people choose one of the following options:

• Move as close to the desired area as possible
• Check out where the next up-and-coming area is going to be and move there instead
• Buy something less expensive and renovate it

Freehold or leasehold?

Unsure of the difference between freehold and leasehold? Freehold means that you own the property and the land it sits on. This means you’ll be financially responsible for maintaining both.

Leasehold is slightly different, as you own the property and the land for as long as your lease agrees. For example, a flat will usually be a leasehold, as the freeholder owns the block. Also, if you buy through shared ownership, this will be a lease property. Every lease has a different length and until you extend it, the property goes back to the freeholder. This is why many people are wary to buy a short-lease property. In Scotland, most properties will be freehold.

Help for first time buyers: guidance on costs

If you haven’t owned a home before, you might assume that the upfront cost of the property is all you need to worry about. But, you’d be wrong! Here’s a closer look:

Deposits

Many home buyers are unclear on exactly how much they’ll need to save for a deposit. There are no exact figures, as this depends on the property and the individual circumstances. But, generally, try to save between 5-20% of the initial cost of your new home. The more you manage to put away, the better! This will mean that you have more options open to you.

Solicitor fees

A solicitor will take on many responsibilities, from organising legal contracts to handling funds. One essential role is to oversee the survey of a potential property. Choosing a solicitor can be tough, as they’re essential to the house-buying process! Look for those with experience in the type of property you’re buying, and ensure they have the capacity to take you on.

Removal costs

It’s important to find removal quotes to ensure you get the best deal!

Buildings insurance

There are many types of insurance needed when buying a home:

• Home buyer protection insurance
• Buildings insurance
• Insurance for possessions in transit
• Contents insurance

Mortgage arrangement fees

You have to pay a fee to your lender for them to set up your mortgage. The amount varies depending on the individual property and situation, but you’re looking at between £1,000 and £2,000. But, this is an estimated figure. It could be much higher or lower due to your circumstances.

Help for first time buyers: Survey costs

Before buying a house, it’s essential you get a survey. These can help you avoid any unnecessary expenses later on down the line by identifying any potential problems. But, this will cost you!

Furnishing and decorating costs

You’ll want to make a house a home. So, ensure you’ve factored any redecoration and new furniture into the budget.s are freehold.

Closed schemes: no longer available to new buyers

The following schemes are closed to new applicants but may still apply if you already have one in place.

Help to Buy ISA

Closed to new accounts in November 2019. Existing Help to Buy ISA account holders can continue saving until November 2029 and use the bonus until December 2030.

Help to Buy Equity Loan

The Help to Buy Equity Loan ended in March 2023. It previously allowed buyers to borrow up to 20% (40% in London) of a new-build home from the government.

While no longer available, it helped shape many current first-time buyer schemes in 2026.

Buying a house for the first time?

Whether you’re a first-time buyer or not, you should always thoroughly research the area you’re planning to move to. From crime rates to purchase prices for similar properties nearby, Phil Spencer’s property report can tell you everything you need to know. Get yours below.

Last Updated: February 5th, 2026