Your First Home calculator
Explore how a Your First Home purchase could be funded and what the mortgage and equity loan could cost. This is an illustration based on the announced scheme, not an eligibility decision or mortgage quote.
Confirmed, but not yet open. Pre-registration is due by the end of December 2026, applications are expected in February 2027 and first purchases from April 2027. Full eligibility rules and participating lenders are still to be confirmed. The scheme covers eligible new-build homes in England only.
Scheme information checked: 2 November 2026
The rate is for illustration only and isn't a product offer. Repayment mortgage only.
Gross yearly income for everyone buying. Leave blank to skip the income comparison.
Your deposit
£7,500
Government equity loan
£60,000
Mortgage required
£232,500
Mortgage loan to value
77.5%
Illustrative monthly payments
| Period | Mortgage payment | Equity-loan interest | Combined |
|---|---|---|---|
| Years 1 to 5 | £1,248 | £0 | £1,248 |
| Year 6 | £1,248 | £75 | £1,323 |
| From year 7 | £1,248 | £150 | £1,398 |
These figures assume the mortgage rate stays unchanged and none of the equity loan is repaid. Interest is illustrated using the original equity-loan amount. Final administration rules may affect actual charges. Equity-loan interest doesn't reduce the loan balance. The combined figure excludes other buying and ownership costs and money needed to repay the equity loan.
What could the equity loan cost to repay?
Quick scenarios (not forecasts)
The equity loan is linked to your home's value. This illustration assumes the full 20% share is still outstanding. Repayment would normally depend on an independent valuation and the scheme's final repayment rules. It excludes valuation, legal and administration fees, any mortgage balance and selling costs.
How your figures compare with the announced limits
Household income
Income limit not checked. To compare, choose a property location and enter your household income.
Announced limits: £110,000 in England outside London and £140,000 in London. Household income isn't business turnover. If you're self-employed, the income a lender assesses may differ and depends on the evidence it requires.
Local property price cap not checked
Price caps are set by local area and the full list isn't available yet. See our Your First Home guide and the official GOV.UK guidance.
This panel is for information only. It isn't an eligibility check, and your deposit, mortgage loan to value or income alone don't show whether you qualify.
Illustrative figures only, based on the announced scheme. This isn't an eligibility decision or mortgage quote. Your home may be repossessed if you do not keep up repayments on your mortgage.
How this calculator works
Your deposit is the percentage of the price you enter, from 2.5% to 15%. The government equity loan is a fixed 20% of the price. The mortgage covers the rest, worked out as a repayment mortgage at the rate and term you enter.
Equity-loan interest is illustrated as nothing for years 1 to 5, 1.5% a year of the original loan in year 6 and 3% a year from year 7. The repayment illustration takes 20% of the future value you enter.
For the full announced rules, costs and timetable, read our Your First Home guide.
Your First Home: common questions
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