Your home may be repossessed if you do not keep up repayments on your mortgage.
Your First Home: what Budget 2026 means
Budget 2026 confirmed an England-only scheme for some first-time buyers purchasing a participating new build, with a 20% equity loan and a 2.5% minimum deposit. Pre-registration is expected by the end of December 2026, with full applications from February 2027.
Important: this does not guarantee a mortgage or eligibility. Income caps, local property-price caps, lender and developer participation still apply, and the formal delivery arrangements need to be in place.
Read the full factual update
At a glance
Budget 2026 confirmed
A 20% equity loan, 2.5% minimum deposit, five-year interest-free period and income caps of £110,000 outside London and £140,000 in London.
What to check
The local-authority price cap, participating developers and lenders, annual funding availability and the formal scheme rules.
Checked against HM Treasury Budget 2026 on 28 October 2026.
A conversation in plain English
Buying or remortgaging can feel like a lot. Start with the questions that matter to you and take time to understand the options before deciding what to do next.
- Ask the questions you have, without feeling rushed.
- Understand the process and the information a lender may need.
- Decide your next step in your own time.
Crunch the Numbers
Get a rough idea of your budget with our free calculators. These are estimates only — for accurate figures tailored to you, let's chat.
Affordability Calculator
See how much you might be able to borrow based on your income and deposit.
Stamp Duty Calculator
First-time buyers often pay less or nothing. Check what you'd owe.
Repayment Calculator
Estimate your monthly payments at different interest rates.
Cost of Moving
Budget for all the costs: solicitors, surveys, moving fees and more.
Important: These calculators provide estimates only. The actual amount you can borrow depends on your credit history, employment status, and individual lender criteria. For accurate figures, please get in touch.
How the Process Typically Works
Here's an overview of the typical steps involved in buying your first home.
Initial Chat
We discuss your income and deposit to understand what you might be able to afford.
Decision in Principle
I can help you apply for a Decision in Principle, which shows estate agents you've been assessed for a mortgage.
Find Your Home
You go house hunting. Once you find a property and have an offer accepted, I handle the full application.
Complete the Purchase
I liaise with lenders and solicitors to help keep things moving towards completion.
Want More Detail?
Click each step below to see what typically happens at each stage.
Government Schemes That May Help
If you're finding it difficult to save a large deposit, there are several government-backed schemes that may be worth exploring.
Please note: Government schemes and their terms change regularly. The information below is a general overview only. Please verify current eligibility criteria and terms on gov.uk before making any decisions.
Shared Ownership
Buy a share of your home (often 10%-75%) and pay reduced rent on the rest. This may suit those with a smaller deposit or lower income.
- Deposit based on share price, not full value
- Option to buy more shares later ("staircasing")
- Available on new builds & resales
First Homes Scheme
New-build homes offered at a discount for local first-time buyers and key workers. The discount stays with the property.
- Discounts typically 30-50%
- Price caps apply (check gov.uk for current limits)
- Availability varies by area
5% Deposit Mortgages
The Mortgage Guarantee Scheme encourages lenders to offer 95% mortgages. You may only need to save a 5% deposit.
- May help you buy sooner
- Available on properties up to certain values
- Open to movers too, not just first-time buyers
Lifetime ISA (LISA)
Save towards your first home and receive a government bonus. Must be used for first home (subject to price limits) or retirement.
- 25% government bonus on savings
- Must be open for 12+ months to use
- Penalty if withdrawn for other reasons
Not sure which scheme might suit your situation? I can help you understand your options.
Discuss My OptionsThe scheme information above is for general guidance only and may not reflect the latest terms or eligibility criteria. Government schemes are subject to change. Always verify details on gov.uk before making decisions. Your home may be repossessed if you do not keep up repayments on your mortgage.
What You'll Need
Gather these documents before we chat and you'll be ready to move fast when you find the right home.
Proof of Identity
Valid passport or driving licence
Must be current and not expired
💡 A passport is preferred by most lenders
Proof of address (last 3 months)
Utility bill, bank statement, or council tax bill
💡 Mobile phone bills usually aren't accepted
Proof of Income
Last 3 months' payslips
Consecutive months showing your regular income
💡 Include any bonus or overtime if it's regular
Latest P60
Shows your annual earnings and tax paid
💡 You get this from your employer each April
Employment contract (if recent)
Required if you've been in your job less than 3 months
💡 Shows your salary and employment terms
Bank Statements
Last 3 months' bank statements
All accounts where your salary is paid or savings held
💡 Lenders look at your spending habits, so avoid gambling transactions
Evidence of deposit source
Shows where your deposit money came from
💡 If it's a gift, you'll need a signed letter from the giver
Property Details
Property listing or details
Address, price, and estate agent contact
💡 I can help before you've found a property too
Solicitor/conveyancer details
Their name, firm, and contact information
💡 I can recommend local solicitors if you need one
Buying in Alsager?
I live and work here. Here's what you need to know about buying your first home in our town.
Alsager Property Market
A practical view of the Alsager property market
Property prices and trends change, and online averages do not tell the whole story. I can talk through what current asking prices, your deposit and your budget may mean for your own plans.
Areas to Consider in Alsager
Why First-Time Buyers Love Alsager
Great Commuter Links
Direct trains to Crewe, Stoke, and Manchester. Easy access to M6.
More Affordable Than Nearby
Better value than Nantwich or Knutsford, with similar village feel and amenities.
Excellent Schools
Well-regarded primaries and Alsager School is a popular secondary choice.
Green Spaces
Alsager Mere, Milton Park, and surrounding countryside. Perfect for dog walkers and families.
Independent High Street
Local butchers, bakeries, cafés, and pubs. Real community feel without being isolated.
Growing Community
New developments bringing young families. Active community groups and events throughout the year.
Common Questions
It's normal to have questions. Here are the ones I hear most often.
Rob Davies
Your local mortgage adviser in Alsager
Have Questions About Buying Your First Home?
You don't need to have found a house yet. In fact, it can be helpful to chat before you start looking.
Understand Your Budget
Get a clearer idea of what you might be able to borrow, so you can focus on properties within reach.
Decision in Principle
I can help you apply for a Decision in Principle certificate to show estate agents.
Ask Anything
No question is too basic. I'm here to explain everything in plain English.
Mortgage answers
Latest first-time buyer answers
Clear answers for people getting ready to buy their first home.
Last verified 28 October 2026
Can I buy with a 2.5% deposit under Your First Home?
A 2.5% deposit is the announced minimum for eligible Your First Home purchases, not a guarantee that a buyer or property will qualify.
Read answerLast verified 28 October 2026
What does Budget 2026 mean for first-time buyers?
Budget 2026 confirmed the main design and timetable for Your First Home, but it does not guarantee a mortgage, eligibility or a property purchase.
Read answerLast verified 28 October 2026
What is the First Time Buyer ISA from 2029?
The new First Time Buyer ISA is planned from April 2029 for new savers, with £4,000 yearly contributions and a 25% Government bonus for qualifying first homes up to £450,000.
Read answer