Andy Burnham Launches Your First Home Housing Scheme

Prime Minister Andy Burnham announced the Your First Home scheme to assist first-time buyers in England who lack family financial support. The program provides a 20% equity loan for new-build homes requiring a minimum deposit of 2.5% and includes an initial interest-free period. To target the most needy applicants, the government will implement caps on household income, deposits, and property prices.

John Healey will formally launch the program in the upcoming budget, with registration expected to open by the end of 2026. The initiative is funded through developer fees and reprioritized government budgets. Housing Secretary Angela Rayner stated the scheme would increase access to home ownership, though she acknowledged a slim chance of meeting the 1.5 million home building target.

Burnham also unveiled plans to strengthen local government powers to reclaim long-term empty and derelict homes. The government will reduce the eligibility period for empty dwelling management orders from two years to six months. This policy change aims to make over 300,000 dwellings available for families.