How does the first key scheme work?
The First Key Shared Ownership Scheme is designed to help you take that next step towards owning a home - with a little extra support along the way. Whether you’re buying your first home or returning to the property ladder, First Key helps make it possible.
With First Key, you can buy a share of your brand-new home and pay a straightforward monthly rent on the rest. You can start by purchasing up to 75% of your chosen property, while the remaining share is leased to you through our trusted partners at River Mease.
How do I qualify for the first key scheme?
To buy a new Bloor home through the First Key Scheme, you’ll need to meet the following criteria:
- Your household income does not exceed £80,000 per annum.
- You have a deposit (at least 5% of the initial share you are purchasing)
- You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.
- You meet the relevant requirements in regards to your credit history.
- The property will be your principal and only home at the time of purchase.
Is the scheme available on all new Bloor Homes?
Will I only own part of the home?
Buying your new-build home through the First Key Scheme means you’ll have full ownership and responsibility for your property.
While Shared Ownership is a great way to make owning a home more accessible, it works a little differently from buying outright. Our friendly Sales Advisors are here to talk you through how it all works and help you decide if it’s the right fit for you.