New build buyer schemes in 2026: what's actually available

6 min read · June 2026

Help to Buy closed to new applications in October 2022 and ended completely in March 2023. Since then, coverage of new build buyer schemes has been patchy — lots of articles still reference Help to Buy as if it exists. Here's what's actually on offer in 2026.

First Homes

First Homes is a government scheme that offers new build homes at a discount of at least 30% below market value — and in some areas, up to 50%. The discount is permanent: when you come to sell, you must sell at the same percentage discount to another eligible buyer.

Who qualifies:

• First-time buyers only
• Household income must be under £80,000 (£90,000 in London)
• Local authorities can set additional requirements — for example, prioritising key workers or people with local connections

The catch: availability is limited and varies significantly by area. Not all developers participate. Check the development directly and ask whether any First Homes units are allocated.

Shared Ownership

Shared Ownership lets you buy between 10% and 75% of a property (depending on the development) and pay rent on the portion you don't own. You take out a mortgage on your owned share only. You can increase your share over time through "staircasing."

Why it helps: you need a deposit on your share only, not the full property value. If you're buying a 40% share of a £300,000 property (£120,000), a 5% deposit is £6,000 — far less than £15,000 on the full price.

What to watch out for:

• You pay rent on the unsold share to the housing association — often around 2.75% of that portion per year
• Service charges and ground rent (for flats) can be significant
• Staircasing to 100% can be expensive if property values rise
• Selling can be slower — the housing association usually has first right of refusal

Shared Ownership can be the right route, but go in with clear expectations. It's a partial rental arrangement, not a straightforward purchase.

Own New Rate Reducer

Own New Rate Reducer is a developer-funded scheme where the developer pays an upfront sum to the lender, which is used to buy down your mortgage interest rate for an initial fixed period — typically two or five years.

In practice, this can mean getting a mortgage rate 1.5–2% below what you'd find on the open market for the introductory period. After the introductory period, you remortgage onto a standard deal.

Availability depends on the developer and the specific development. Ask the sales office whether Own New is available and which lenders they've partnered with. Participating lenders include most major names.

Mortgage Guarantee Scheme

The government's Mortgage Guarantee Scheme supports 5% deposit mortgages by providing a guarantee to lenders on the higher-LTV portion of the loan. This is available on new builds as well as existing properties.

It doesn't reduce your rate or price — but it makes 5% deposit mortgages more widely available, particularly from lenders who would otherwise only offer them at higher rates.

Developer incentives: negotiate

Beyond formal schemes, developers often offer their own incentives — upgraded kitchens, carpets, appliances, or a contribution to legal fees. These are almost always negotiable, particularly for later-phase properties or in a slower market. Ask directly what's available. The answer is often better than you'd expect.