“A sensible demand-side stimulus alongside planning reform feels like the right approach.” – UTB Comments on Proposed ‘Your First Home’ Scheme

28 September 2026

The Government is to introduce a new scheme to try to help people get on the property ladder. The ‘Your First Home’ scheme would be open to first-time buyers in England with a deposit of 2.5%. It would provide them with a loan worth 20% of their new build property's value to help pay for the purchase.

Adam Bovingdon, Managing Director – Real Estate Finance – United Trust Bank comments:

“Planning approvals have fallen to a 13-year low, with just 214,515 homes approved in the year to June 2026. That is only around 58% of the 370,000 homes needed annually to meet the Government's housing ambitions. The reality is that planning reform, while essential, will take time to feed through into completed homes.

“At the same time, the proposed ‘Your First Home’ scheme is a welcome attempt to stimulate demand. A 2.5% deposit and government-backed equity loan should help address one of the biggest barriers facing first-time-buyers and provide a boost to confidence in the new-build market.

“The detail will matter. Income caps, local price caps and eligibility criteria are understandable, but if they become too restrictive there is a risk of limiting the scheme's impact. The original ‘Help to Buy’ programme was not without its critics, but it supported the delivery of hundreds of thousands of new homes and played a significant role in expanding access to home ownership and stimulating SME housebuilding, which is a key part of the market we support.

“The housing market needs both sides of the equation. Supply-side reform is critical, but new homes only get built if there are buyers at the end of the process. A sensible demand-side stimulus alongside planning reform feels like the right approach.

“After a difficult few years for the housebuilding sector, additional support for both homebuyers and developers is certainly welcome. The key now is ensuring the final scheme is broad enough to make a meaningful difference rather than simply being a political symbol.”