Access FS urges government to widen first-time buyer scheme and strengthen buyer protections
27 October 2026
Access Financial Services (Access FS) is urging the Government to ensure its proposed Your First Home Scheme gives first-time buyers greater choice and a clear understanding of the longer-term financial implications of purchasing a new-build property with a small deposit.
The mortgage and protection brokerage supports measures to help more people onto the property ladder but believes the scheme's restriction to new-build homes needs careful consideration, given evidence that buyers who resell newly built properties within a few years are more likely to sell for less than they originally paid.
Research by Kerblist, analysing HM Land Registry data for England and Wales, found that 12% of new-build homes resold within three years sold for less than their original purchase price, compared with 6.3% of comparable second-hand homes.
Access FS believes this highlights the importance of ensuring first-time buyers understand the potential risks of purchasing a property, particularly when they have limited savings and may need to move again sooner than expected.
Under the proposed Your First Home Scheme, eligible first-time buyers in England are expected to be able to purchase a new-build property with a 2.5% deposit, supported by a Government-backed equity loan worth 20% of the property's value. The scheme is intended to reduce the deposit barrier and initially offer an interest-free period on the equity loan, with further details due at the Autumn Budget.
While the Government's equity loan may also reduce in value if the property price falls, buyers will need to understand how the loan is repaid, what happens when the interest-free period ends and how changes in property values could affect their financial position if they decide to sell.
Access FS is calling for the scheme to be available for existing properties as well as new builds, giving buyers greater choice and the opportunity to consider homes that better suit their circumstances and local housing market.
The brokerage also believes clear eligibility criteria and access to independent mortgage advice will be important in helping buyers assess whether the scheme is appropriate for them. Understanding the initial costs of buying is only one part of the decision; buyers must also consider the longer-term implications of the mortgage and equity loan together.
Karl Wilkinson, founder and chief executive of Access FS, said:
“Helping first-time buyers overcome the deposit barrier is important, but getting people onto the property ladder is only part of the challenge. We also need to make sure they understand the financial commitments they are taking on and how these could affect them further down the line.
“Research shows that new-build properties resold within three years are more likely to sell for less than their original purchase price than comparable second-hand homes. That doesn't mean new builds are destined to lose value, or that the Government's equity loan automatically increases the risk of negative equity. But it does underline why buyers need to understand the implications of the scheme before committing.
“Opening the scheme to existing homes would give first-time buyers more choice, while independent mortgage advice can help them understand how the mortgage and equity loan work together, including the implications of selling the property or reaching the end of the interest-free period.
“The Government has an opportunity to help more people buy their first home, but the scheme needs to support informed decisions as well as access to finance. Buyers should have a clear understanding of both the immediate benefits and the longer-term commitments.”
Access FS is calling on the Government to ensure the Your First Home Scheme offers meaningful choice, clear information and appropriate support, helping first-time buyers make informed decisions about sustainable homeownership.
