In this guide
2. Eligibility
To be eligible for the Scheme, you must:
- be buying an eligible home, with a maximum price of £300,000 (from 1 April 2023) from a builder who is registered with the Scheme
- be able to fund at least 80% of the property price through a combination of a repayment mortgage and a minimum deposit of 5% of the purchase price
- take out a first charge repayment mortgage with a qualifying lender
- not sub-let any part of the house you are buying through the Scheme
- not be renting your existing home and buying a 2nd home through the Scheme
Not sure if this is for you?
Use our scheme finder to find out which other home ownership schemes you may be eligible for.