Bloor Homes | First Homes

How does the First Homes scheme work?

Designed for first time buyers, First Homes is a government-backed initiative available on new build homes. The scheme enables first time buyers who meet the eligibility
criteria set by the scheme itself, and then the local authority, to purchase a quality new home with a discount of at least 30%*.

Your new home will then remain under the First Homes scheme, meaning the discount will then be passed onto your buyer, should you choose to sell your home.

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Can I use the scheme on any new build home?

New Bloor homes under the First Homes scheme will be indicated on our site plans and price lists when available. We may be able to offer a variety of styles and sizes of home, however the maximum price of the home after the discount has been applied, will be £250,000. (£420,000 in London).

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Does this mean I only own a percentage of my home?

You will own 100% of your new Bloor home, regardless of the discount percentage applied.

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How do I qualify for the First Homes scheme?

The First Homes scheme includes criteria set by the government, and then will also include possible additional criteria set by the local authority.

Under the scheme you must meet the following criteria:

• You, and any other person you are buying with, must be first time buyers.

• Your household income cannot exceed £80,000 (£90,000 in London).

• You must secure a mortgage to cover at least 50% of the price of your Bloor home.

• You will need a 5% deposit.

The local authority may request further criteria such as local area connections and a lower household income than £80,000, and may also prioritise key workers.

For full details, speak with our Sales Team who will be happy to advise of any available First Homes we may have, and talk you through the criteria.

*The ‘First Homes’ scheme is subject to eligibility, terms, and conditions, and will only be available on selected plots and developments. For further details, please speak to our Sales Team or visit https://www.gov.uk/first-homes-scheme.