First Homes scheme
Same stylish homes... but up to 40% cheaper*
The First Homes scheme is a government initiative designed to make buying a brand-new Dandara home even more affordable for first-time buyers. You’ll get the exact same quality, layout and modern design you’d expect from us – all for up to 40% less than the market value*.
So, how does the First Home scheme work? When you use the scheme, you will fully own the home you buy from us, and the 40% discount you received simply gets passed on to the next first-time buyer that purchases the property from you. And so on, and so on. It is a brilliant way to pass the savings along and help more people get a foot on the property ladder.
Are you eligible for the First Homes scheme?
- You and anyone else buying the home with you must be first-time buyers.
- You must be over 18.
- Your household income needs to be £80,000 or less before tax (£90,000 or less if you are buying in London).
- After a discount of up to 40% is applied, the home must cost £250,000 or less.
- After the 40% discount, the home must cost £250,000 or less.
- You need a deposit of at least 5% of the discounted price.
- Your mortgage must cover at least 50% of the cost of the home.
- Some local authorities have certain criteria that you need to meet, such as living locally or being an essential worker. Not sure you meet the criteria? Simply check with a member of our Sales team.
How to buy your first Dandara Home
- First, find a stylish, brand new Dandara home that meets the criteria (the First Homes scheme is available on selected homes only).
- Ask a member of our friendly Sales team to double-check you tick all the necessary boxes to apply.
- Your application will be sent to the local authority to confirm your eligibility.
- Once approved, you can apply for a mortgage and hire a conveyancer/solicitor.
- Exchange contracts and pack your boxes.
- Move into your high-quality, new Dandara home.
FAQs
Tell me what the First Homes scheme is?
It’s a fantastic scheme that allows first time buyers to buy a quality, high specification Dandara home with a 40% discount on the market value.
How does the scheme work?
This exciting scheme is available on selected brand new Dandara homes in England. So, say you’re a first time buyer and you want to buy one of our homes priced at £350,000 – as long as the property is under the First Homes scheme, you could purchase it for £245,000.
Which homes is the First Homes scheme available on?
Selected Dandara homes across our superb, perfectly located developments.
What’s the maximum price on First Homes?
They cannot cost more than £250,000 (£420,000 if buying in London) after the 40% discount has been applied.
Will the ownership of my first home be shared?
No, using the First Homes scheme means you have complete ownership of your brand new Dandara home and there are no rental costs.
What happens when the house is sold?
The First Homes scheme will apply to the property forever (unless agreed with your local council); every future buyer and the local community will keep benefitting every time the property is sold. They will get the same discount from the market value.
If me and my partner buy together, do we both have to be first time buyers?
Yes, both buyers have to be purchasing for the first time.
Will I need to pay Stamp Duty?
No, as a first time buyer, and based on the discounted price you will not need to pay Stamp Duty**
Can I let the property?
You may be able to let the property for a limited period or in certain circumstances, these will need to be agreed with your local council and your mortgage lender.
Terms & Conditions
Terms & Conditions
The First Homes Scheme operates the same as any other house purchase but it is only available on certain homes on any development and subject to eligibility criteria.
You can reserve a home if we believe that you meet the criteria but it is the local council that ultimately approves whether you are eligible so we recommend you discuss eligibility with the council prior to reservation to avoid disappointment.
If the council refuses your application, we will refund your reservation fee paid.
You cannot exchange contracts without an Authority to Exchange from the council.
** Correct as at 25/06/24
