First Homes are designed for local first-time buyers who want to stay in the communities where they live or work, but are struggling to get onto the property ladder.
These homes will be sold direct by the developer.
The First Home scheme offers eligible first-time buyers a discounted property.
The maximum amount First Homes can be sold for is £250,000.
This discount remains with the property so that future eligible buyers can benefit from the scheme if the house is re-sold.
The First Homes scheme is available exclusively to local first-time buyers who meet the following three criteria:
- First-time buyer
- Individual or a couple that has a combined income up to £80,000
- Have a local connection for the first three months that these properties are on sale.
If the homes remain unsold after this, these conditions will be removed meaning any eligible first-time buyers can apply.
First Homes’ were introduced as a new affordable home ownership product by the previous Government in May 2021. The National Planning Policy Framework (NPPF) in 2024 said “The requirement to deliver a minimum of 25% of affordable housing as First Homes, as set out in 'Affordable Homes Update' Written Ministerial Statement dated 24 May 2021, no longer applies. Delivery of First Homes can, however, continue where local planning authorities judge that they meet local need.” In line with Government policy, Waverley will no longer require ‘First Homes’ to be provided on new development sites as part of the affordable housing mix. This does not however exclude developers promoting such sites and each case will be assessed on a site by site basis.