Get more information and updates from Bellway Homes regarding this development via:
Receive updates about other nearby developments from Bellway Homes and sister brand Ashberry Homes, as well as related products and news.
Get more information and updates from Bellway Homes regarding this development via:
Receive updates about other nearby developments from Bellway Homes and sister brand Ashberry Homes, as well as related products and news.
We’ve teamed up with one of the UK’s leading new homes mortgage specialists, New Homes Mortgage Helpline, to help find the right mortgage product for you.
Please note, by ticking the checkbox below you consent to Bellway sharing your data with New Homes Mortgage Helpline (a trading name of The New Homes Group Limited) who will contact you to offer unbiased, reliable and professional advice on mortgages available from a wide variety of lenders. Bellway will receive a commission of £350 when you complete on a mortgage arranged by the New Homes Mortgage Helpline through this portal. This commission does not affect mortgage terms and is not charged to homebuyers.
First-time buyers, meet the First Homes scheme. This government-backed initiative could unlock a discount of at least 30% on a new-build Bellway home in England. Think of it as a friendly shortcut onto the property ladder.
If you have at least 5% deposit and a household income of £80,000 or under (£90,000 in London), you might already meet the criteria. In this guide to the First Homes scheme for first-time buyers we’ll explain everything you need to know.
The First Homes scheme makes a new-build home in England even more affordable for first-time buyers with a 30% discount (or more) on the market value. It’s backed by the UK government and aimed at prospective buyers who would struggle to afford the full price. If your household income doesn’t exceed £80,000 (£90,000 in London) and you have a 5% mortgage deposit, a new Bellway home could be closer than you think.
You’ll own your home and there’s no rent to pay, so the feeling of buying your first home is all yours to savour. What’s more, the discount stays with the property – meaning when you use the First Homes initiative, future first-time buyers will benefit too.
A new Bellway home, at a 30% discount – and you might already tick all the boxes to qualify. To use the First Homes scheme, you’ll need to:
Your Bellway sales advisor at your preferred participating development can talk it all through with you. They’ll know which homes are eligible for the First Homes scheme, and whether you’ll meet the criteria based on your personal circumstances.
*Your local authority might have different criteria to what is outlined above, for example at our Lydiate Gate and St Oswald’s Place developments your income must not exceed £50,000 to qualify.
You’ll need at least 5% mortgage deposit to access the First Homes scheme, in addition to other criteria. Our simple mortgage calculator for first-time buyers gives you an idea of how much you need to save to buy the Bellway home you want, and what your monthly mortgage repayments could be. If you’d like a proper chat about your affordability, speak to one of Bellway’s trusted independent mortgage advisors.
The next step is to check that you meet the eligibility criteria for the First Homes scheme. Pick up the phone or pop in for a chat with your Bellway sales advisor at your preferred development to make sure you tick all the boxes and meet your local council’s requirements. They can also let you know which homes at the development are eligible to buy under the First Homes scheme, as the maximum discounted price for a property is £250,000 (£420,000 in London).
Now you need to get a Decision in Principle from a mortgage lender to indicate how much they’ll be willing to offer you, based on how much deposit you have saved and what you can afford to repay each month. A qualified independent mortgage advisor will guide you through this process, but you can apply directly to a lender yourself if you’d prefer. Once you have your Decision in Principle we’ll help you reserve your chosen home and talk you through what happens next.
Armed with your Decision in Principle, you can meet with your Bellway sales advisor to reserve your home. Congratulations! You’ll need to pay a reservation fee to secure your plot, but this is refundable if for any reason your First Homes scheme application is denied.
Before you can complete your First Homes scheme application to your local authority, you need a conveyancer, or a property solicitor. This is who will handle all the legal stuff around your house purchase, and they’ll need to be named on your application. It sounds formal, but don’t worry, your solicitor does all the heavy lifting. Just let them know you’re using the First Homes scheme when you get in touch so they can get everything lined up.
Your Bellway sales advisor will help you to fill out the application for the First Homes scheme and submit it to your local council. If your application is successful, your council will let you know along with your developer, conveyancing solicitor, and mortgage advisor, if you have one.
You can now complete your full mortgage application and submit it to your lender. If you’re working with an independent mortgage advisor, they’ll help you to do this and make sure you’ve got all the paperwork in order.
Your conveyancer or solicitor will move forward with the legal process of buying your home. Look out for any documents they send you to complete, or any requests for information or paperwork from you. Once everything is in place, your solicitor will liaise with Bellway to agree a completion date on your new home.
You’re just days away from being a homeowner. You’ll agree a completion date with Bellway, and your solicitor will exchange contracts with us ahead of this date. Once contracts are exchanged, both parties are legally committed to the sale; on completion day, all the money is transferred, and your new home is yours. Your Bellway sales advisor will invite you to collect your keys, and before you know it, you’ll be chatting to your new neighbours over the fence.
We can’t sing Bellway’s praises enough. The staff have been fantastic and we never once felt pressured. The whole development has a lovely sense of community and we’re over the moon we get to call this place home.Sarah Newton, Bellway homeowner at Grove Meadows
The First Homes scheme is a government-backed initiative exclusively for first-time buyers in England. If you’re eligible, you could buy a new-build home with a 30% discount or more.
Yes. The First Homes scheme applies to homes with a maximum price of £250,000 (£420,000 in London) after the discount has been applied.
To qualify for the First Homes scheme you must be a first-time buyer, have a 5% deposit and at least a 50% mortgage, but your local authority may set their own eligibility criteria. These could include having local connections and/or being a key worker, and in some authorities there might be differences to the maximum income criteria to qualify.
Yes. You’ll need to have a minimum 5% mortgage deposit to use the First Homes scheme.
Yes. You’ll have full ownership over your home, just like if you bought it without using the First Homes scheme.
The First Homes scheme applies to your home forever, meaning that all future buyers will benefit from the discount you get. They must be first-time buyers, meet the same eligibility criteria and get approval to buy from your local authority. Your solicitor can run through all of these details with you.
We could be your last stop for your first home. The First Homes scheme for first-time buyers is available on selected homes across many Bellway developments. Start by searching for your nearest participating development below, then have a chat with our sales advisor to find out which homes are eligible to buy under the First Homes scheme.
If the First Homes scheme isn’t right for you, there are other affordable buying schemes and programs for first-time buyers that you could use to buy with Bellway.
Trust us with the house, so you can find a home
*The ‘First Homes’ scheme is subject to eligibility, terms, and conditions, and will only be available on selected plots and developments. Please speak to your sales advisor for further information and seek advice from your solicitor.
