First Homes Scheme
Explore the First Homes Scheme in Worthing
Buying your first home can feel more achievable when a new-build property is available at a meaningful discount. The First Homes Scheme is designed to help eligible first-time buyers purchase selected new homes at a minimum 30% reduction from market value, supporting people who want to put down roots in their local area.
Elté Financial Solutions provides clear, personal mortgage and protection guidance to help you understand whether the First Homes Scheme in Worthing could suit your plans. We explain the mortgage options available to you, the scheme requirements and the practical steps involved, without unnecessary jargon.
Make Your First Purchase More Affordable
A lower purchase price can reduce the size of deposit and mortgage you need, although you will still need to meet a lender’s affordability checks and the scheme’s eligibility criteria. First Homes properties are new builds, and availability depends on local developments and allocation by the relevant local authority.
Key points to consider include:
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A minimum 30% discount is applied to the property’s market value
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The scheme is intended for eligible first-time buyers
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Household income must usually be no more than £80,000 a year outside London
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Properties outside London are generally capped at £250,000 after the discount
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When you sell, the home must usually be offered with the same percentage discount applied
For buyers in Worthing, this may provide a route to ownership in an area where new-build homes are available but standard market prices may stretch a first-time buyer’s budget. For example, a new-build home valued at £350,000 could be sold for £245,000 with a 30% First Homes discount, subject to eligibility and Worthing Borough Council’s local requirements. Your circumstances, deposit, income and credit profile will all affect the mortgage options that may be suitable.
Understand Local Eligibility and Resale Rules
The First Homes Scheme in Worthing is not simply a matter of finding a discounted property. You will need to meet the national scheme criteria and may also need to satisfy local requirements. These can include a connection to the area, such as living or working locally, depending on the property and the local authority’s rules.
The discounted price is capped, helping to keep the home within reach for future eligible buyers. Outside London, the maximum price after the discount is generally £250,000, although local authorities may apply a lower cap. If you later decide to sell, the original percentage discount normally continues, rather than being removed. This means it is important to understand both the benefit at purchase and the conditions that may apply when you sell.
A similar approach can be relevant for first-time buyers considering opportunities around Haslemere. For instance, a home with a market value of £350,000 could have a discounted First Homes price of £245,000, while Waverley Borough Council may consider local connection or local housing needs when applying its eligibility requirements. Local housing availability, property values and eligibility criteria can differ, so tailored advice helps you assess the options in the area you want to call home.
Know What to Expect From Your Mortgage Advice
Our process begins with understanding your plans, household income, deposit and the type of property you are considering. We then discuss how the scheme works alongside your potential mortgage borrowing, helping you see the full picture before making decisions.
Where a First Homes property is available, we can explain the mortgage application process and the protection considerations linked to homeownership. Mortgage and insurance decisions should work together, so you can consider how you would continue meeting your commitments if your circumstances changed.
Choose Clear, Personal Guidance
Elté Financial Solutions was founded by Leah Taylor. We focus on giving you straightforward guidance that is tailored to your circumstances, whether you are buying in Worthing, Haslemere or elsewhere across Surrey, Sussex and the wider South East.
Your first home is a major financial commitment. By taking time to understand the First Homes Scheme, lender requirements and your wider protection needs, you can move forward with greater clarity and confidence.
Make Your First Home Purchase Easier
At Elté Financial Solutions, we can help you assess whether the First Homes Scheme in Worthing suits your plans and borrowing position. Our team will talk through the practical steps, from affordability to choosing appropriate mortgage protection. If you have questions about your next move, contact us to arrange a conversation.
Take the First Step Towards Your Goals
Whether you’re buying your first home, refinancing, or exploring insurance options, Leah Taylor is here to provide expert guidance every step of the way. Begin your journey with a reliable adviser who understands and prioritizes your unique goals.
Your home may be repossessed if you do not keep up repayments on your mortgage