First-Time Buyer
Schemes for Police
Every route to a first home that a police officer can actually use in 2026, with its current status: what is open, what has closed, what is changing, and the police-specific catches around age, probation and starting pay.
Independent information, not advice · Sources checked 1 October 2026 · England and Wales unless stated
The same ones as everyone else; none is police-specific. In England in 2026 that means the Lifetime ISA (under 40 to open, home up to £450,000, being replaced), shared ownership (household income up to £80,000, £90,000 in London), First Homes where councils still offer them, 95% mortgages under the Mortgage Guarantee Scheme, and stamp duty relief up to £500,000. Help to Buy has closed in England.
All the schemes at a glance (status at 1 October 2026)
Government help for first-time buyers changed a lot in 2025 and 2026. Several pages still describe schemes that have closed. This table shows each scheme's status when we checked the official pages.
| Scheme | Status at 1 October 2026 | Main limits | Police-specific? |
|---|---|---|---|
| Lifetime ISA | Open; to be replaced by a First Time Buyer ISA (no launch date yet) | Open at 18 to 39; £4,000 a year; 25% bonus; home £450,000 or less | No |
| Shared ownership (England) | Open | Household income £80,000 or less (£90,000 London); share usually 25% to 75% | No national priority (armed forces have priority) |
| First Homes | Not closed, but no longer in national planning policy; availability depends on council | 30% to 50% discount; price after discount up to £250,000 (£420,000 London); income up to £80,000 (£90,000 London) | Councils may prioritise key workers as they define them, for 3 months |
| Mortgage Guarantee Scheme | Permanent since July 2025 | 91% to 95% LTV repayment mortgages from participating lenders; excludes shared ownership | No |
| Stamp duty first-time buyer relief (England) | In force from 1 April 2025 | No SDLT to £300,000; 5% from £300,001 to £500,000; no relief above £500,000 | No |
| Your First Home | Announced 26 September 2026; details at the Budget; not yet open | Expected 2.5% deposit and 20% equity loan on new builds, with income and price caps | No mention |
| Help to Buy equity loan (England) | Closed to new applications on 31 October 2022 | ||
| Help to Buy ISA | Closed to new accounts; existing holders can pay in until November 2029 | Bonus claims until November 2030 | No |
| Help to Buy – Wales | Open to applications until 31 March 2027 | Up to 20% equity loan; new builds up to £300,000 | No |
Schemes only help if the numbers work. The mortgage borrowing calculator estimates what you could borrow on police pay, and the overtime to deposit calculator shows how long a deposit might take.
The Lifetime ISA: a 25% bonus, with an age limit that catches late joiners
| Rule | Detail (GOV.UK) |
|---|---|
| Who can open one | 18 or over but under 40; first payment before 40 |
| How much | Up to £4,000 a year until age 50, within the £20,000 ISA allowance; the limit is frozen until 5 April 2031 |
| Bonus | 25% of what you pay in, up to £1,000 a year |
| Home purchase | First-time buyer; home £450,000 or less; bought with a mortgage; at least 12 months after your first payment |
| Other withdrawals | No charge at 60 or over or if terminally ill; otherwise a 25% withdrawal charge |
| What is changing | Budget 2025: a First Time Buyer ISA will be offered in place of the LISA. Consultation closed 18 August 2026; limits, price cap, bonus and launch date not yet announced |
At the maximum £4,000 a year the bonus is £1,000 a year, so the LISA rewards starting early. The 12-month rule means the account must be open a year before you can use it to buy. The money goes to your conveyancer, not to you.
The replacement. Budget 2025 announced that a new first-time buyer ISA "will be offered in place of the Lifetime ISA". The consultation on the design proposed no upper age limit, a bonus paid at the point of purchase and no withdrawal charge. It closed on 18 August 2026. Limits, price cap and bonus are to be set at a future fiscal event. Until it launches you can still open a LISA; afterwards new LISAs will not be available, but existing holders keep the current rules. For more on where a LISA sits against an emergency fund and the police pension, see our savings and ISAs guide.
First Homes: a discount that depends on your council
First Homes are new homes sold to first-time buyers in England for at least 30% below market value (councils can require 40% or 50%). After the discount the price must be no more than £250,000 (£420,000 in London), and household income no more than £80,000 (£90,000 in London). You need a mortgage for at least half the price, and the discount stays with the home when you sell.
Councils may prioritise key workers, as they define them, and local residents, for the first three months a home is marketed. Police are not named in the national guidance, so whether you count depends on your council.
The scheme's future is uncertain. Councils have not had to require First Homes since December 2024, and the National Planning Policy Framework published on 17 August 2026 does not mention them. We found no official closure, and the GOV.UK guide is still live, but supply depends on individual councils and developers. Our key worker mortgages guide covers the key worker side in more detail.
95% mortgages and the Mortgage Guarantee Scheme
The government's Mortgage Guarantee Scheme has been permanent since July 2025. It gives participating lenders a guarantee on mortgages of more than 90% and up to 95% loan-to-value for first-time buyers and home movers. The 2025 scheme rules require a repayment mortgage and exclude buy-to-let and shared ownership or shared equity purchases; they set no property price cap. You apply to a lender in the normal way, not to the scheme.
A 5% deposit gets you in the door but often in the lowest income multiple tier. On the lender pages we read, several cap borrowing at around 4.45x to 4.49x income above 90% LTV, and Barclays at 4x above 90% LTV for incomes up to £50,000. Rates are also usually higher at 95% than at lower LTVs. Our police mortgage rates guide explains how LTV bands work.
Stamp duty relief for first-time buyers
In England (and Northern Ireland), first-time buyers pay no Stamp Duty Land Tax on the first £300,000 and 5% on the portion from £300,001 to £500,000, from 1 April 2025. If the price is over £500,000 the relief is lost and standard rates apply to the whole price. You must intend to live in the home as your only or main residence.
| Price (England) | SDLT, first-time buyer | SDLT, standard rates | Difference |
|---|---|---|---|
| £200,000 | £0 | £1,500 | £1,500 |
| £280,000 | £0 | £4,000 | £4,000 |
| £350,000 | £2,500 | £7,500 | £5,000 |
| £450,000 | £7,500 | £12,500 | £5,000 |
| £550,000 | £17,500 | £17,500 | £0 |
These figures are calculated from the published bands and are for illustration; use the GOV.UK SDLT calculator for your purchase. Shared ownership has its own SDLT options. Scotland charges Land and Buildings Transaction Tax, where first-time buyer relief raises the nil-rate band to £175,000. Wales charges Land Transaction Tax, with no first-time buyer relief.
Your First Home: announced, not yet open
On 26 September 2026 the government announced "Your First Home", an England-only scheme for first-time buyers of new-build homes from developers who sign up. It is expected to support 2.5% deposits, with a 20% government equity loan that is interest-free for an initial period, a household income cap and local property price caps. The government said details, costs and timing would be announced at the Budget the following month.
Until those details are published, nobody can apply and nobody can tell you whether you will qualify. The announcement did not mention key workers or police.
Closed or changing: schemes you may still read about
| Scheme | What happened | What it means now |
|---|---|---|
| Help to Buy: Equity Loan (England) | Closed to new applications on 31 October 2022; completions ended in 2023 | Not available. Your First Home, announced in September 2026, is a different, future scheme |
| Help to Buy ISA | No new accounts | Existing holders can pay in until November 2029 and claim the bonus until November 2030 (maximum bonus £3,000; price limit £250,000, or £450,000 in London) |
| Key Worker Living | Began April 2004 in London and the South East, including police; folded into general HomeBuy schemes from 2008 | No national key worker scheme. See our key worker mortgages guide |
| Right to Buy (England) | Still open to eligible council tenants, with maximum discounts of £16,000 to £38,000 by area since November 2024 | Reforms in the Social Housing Bill (not yet law when we checked) would raise the qualifying period from 3 to 10 years |
| Right to Buy (Scotland and Wales) | Abolished in Scotland from 1 August 2016 and in Wales from 26 January 2019 | Not available |
Police-specific points that decide which scheme works
The schemes are the same for everyone, but some features of a police career affect which ones work and when.
| Issue | Why it matters for officers | What the rules or lenders say |
|---|---|---|
| Joining age | Many people join in their late 30s or 40s | You cannot open a LISA at 40 or over. The proposed First Time Buyer ISA would have no upper age limit, but is not yet available |
| Probation | Student officers and probationers want to buy early | Lenders differ: Halifax uses probation income where it is part of a permanent contract; Accord says probationary periods can be disregarded; Coventry wants 12 months' continuous permanent employment. See our lending rules guide |
| Starting pay | A constable on pay point 1 earns £32,255 from 1 September 2026, rising to £52,015 at pay point 7 | Several lenders cap borrowing at about 4.45x to 4.49x for lower incomes and at high LTVs; higher multiples usually need higher income or a bigger deposit |
| High LTV and income multiples | A 5% deposit often means the lowest multiple tier | On the pages we read, Santander caps at 4.45x above 90% LTV, HSBC and TSB at 4.49x above 90%, and Barclays at 4x above 90% LTV for incomes up to £50,000 |
| Overtime in the first years | Overtime can be patchy during training | Lenders want a track record: typically 3 months of payslips, and some want 12 months or a P60 to count it in full |
| Transfers and relocation | A move between forces can mean moving home | Shared ownership resale and First Homes discount covenants add steps when selling; check before you buy |
Early-career officers in particular should read buying in years 1 to 3 of service, and couples should see the police couple mortgage guide. For the income treatment behind these figures, see mortgage lending rules for police.
Illustrative example: how the schemes add up for a new constable
Illustrative example, not a real case and not a recommendation. Figures are rounded and ignore fees and interest.
A single constable on pay point 1 (£32,255 from 1 September 2026), aged under 40, pays £4,000 a year into a Lifetime ISA for 2 years. The government bonus adds £2,000, giving a deposit of about £10,000 before any interest.
| Step | Figure | Where it comes from |
|---|---|---|
| Paid into the LISA | £8,000 | £4,000 a year for 2 years |
| Government bonus | £2,000 | 25% of payments (GOV.UK) |
| Deposit | £10,000 | Before interest or other savings |
| Borrowing at 4.49x basic pay | £144,825 | A common multiple at lower incomes on the lender pages we read; your lender may differ |
| Price this could support | £154,825 | Borrowing plus deposit, before costs |
| Stamp duty (England, first-time buyer) | £0 | No SDLT below £300,000 |
The same officer at pay point 7 (£52,015) would reach about £233,547 at 4.49x. In much of England, a solo buyer on starting pay would be looking at lower-priced areas, a partner's income or shared ownership. Our regional affordability comparator shows where those figures reach, and the borrowing calculator lets you add overtime, allowances and a partner.
Scotland and Wales
Step by step: from saving to completion
| When | Step | Tool or guide |
|---|---|---|
| 12+ months before | If you are under 40, consider whether a Lifetime ISA fits (12-month rule, £450,000 cap) | Savings and ISAs guide |
| 12+ months before | Set a deposit target and plan overtime | Overtime to deposit calculator |
| 6 to 12 months before | Estimate borrowing on basic pay first, then with overtime | Mortgage borrowing calculator |
| 6 to 12 months before | Compare areas you could commute from | Regional affordability comparator |
| 3 to 6 months before | Check council First Homes and shared ownership listings; ask about key worker priority | Key worker mortgages guide |
| 3 to 6 months before | Gather payslips, P60 and bank statements; get a decision in principle | Lending rules for police |
| At offer | Check stamp duty, fees, and the LISA conveyancer process | GOV.UK SDLT calculator |
| Before completion | Check sick pay and cover, so a long absence does not put the home at risk | Protection gap calculator |
Myths about first-time buyer schemes
What we could not verify
- Your First Home details: income cap, price caps, interest-free period and launch date were due at the autumn 2026 Budget.
- First Time Buyer ISA: limits, price cap, bonus level and launch date, and so the date new LISAs stop.
- Local First Homes supply and each council's key worker definition.
- Right to Buy reform: the Social Housing Bill was still before Parliament; official sources give different figures for the new-build exemption period, so we do not state one.
- Help to Buy ISA exact dates: GOV.UK gives "November 2029" and "November 2030"; we could not open an official page with the exact days.
- Every lender's criteria: the lender figures above are from pages we read on 1 October 2026 and change often.
Frequently Asked Questions
What first-time buyer schemes can police officers use in 2026?
The same schemes as everyone else: the Lifetime ISA, shared ownership, First Homes where a council still offers them, the Mortgage Guarantee Scheme for 95% mortgages, and stamp duty first-time buyer relief in England. None is police-specific. A new Your First Home scheme was announced on 26 September 2026 but is not yet open.
Is there a first-time buyer scheme just for police officers?
We found no government scheme just for police officers in 2026. Police were eligible for Key Worker Living from 2004, but that has been folded into general schemes. Some London boroughs and councils give key workers, including police, priority on some affordable homes for a limited period.
Can I use a Lifetime ISA if I join the police after 40?
No. You must open a Lifetime ISA before your 40th birthday and make your first payment before 40. The government plans a First Time Buyer ISA with no upper age limit to replace the LISA, but no launch date had been announced when we checked on 1 October 2026.
What is the Lifetime ISA house price limit?
The home must cost £450,000 or less for a penalty-free withdrawal, you must be a first-time buyer, buy with a mortgage, and buy at least 12 months after your first payment into the LISA. Above £450,000 you pay the 25% withdrawal charge.
Can a police officer get shared ownership?
Yes, if the household meets the criteria: income of £80,000 or less (£90,000 in London) and being a first-time buyer or in one of the other listed groups. There is no national police priority; GOV.UK gives priority to armed forces members. Some homes have local rules or key worker priority.
Is Help to Buy still available?
Not in England. The Help to Buy equity loan closed to new applications on 31 October 2022. Help to Buy – Wales is open to applications until 31 March 2027. If you already have a Help to Buy ISA you can pay in until November 2029 and claim the bonus until November 2030.
How much stamp duty does a first-time buyer pay?
In England, from 1 April 2025, first-time buyers pay no SDLT on the first £300,000 and 5% on the part from £300,001 to £500,000. Above £500,000 the relief does not apply and standard rates are charged on the whole price. Scotland and Wales have their own taxes.
Can I get a 95% mortgage as a police officer?
Many lenders offer 95% mortgages, and the government's Mortgage Guarantee Scheme, permanent since July 2025, supports them. There is no police condition. Lenders often apply lower income multiples above 90% LTV, so a 5% deposit can reduce how much you can borrow.
What is the Your First Home scheme?
A new England-only scheme announced on 26 September 2026 for first-time buyers of new-build homes from participating developers. The government expects it to support 2.5% deposits with a 20% equity loan and an initial interest-free period, with income and price caps. Details are due at the autumn 2026 Budget.
Is First Homes still available?
Possibly, locally. We found no closure announcement and the GOV.UK guide is still live, but councils no longer have to require First Homes and the August 2026 planning framework does not mention them. Ask your council whether any are being built.
Can probationers use first-time buyer schemes?
The schemes themselves do not exclude probationers. The limit is usually the mortgage: lenders' published criteria differ on probation and time in the job, from no minimum at some lenders to 12 months' continuous permanent employment at others.
Can I combine a Lifetime ISA with other schemes?
Some combinations are restricted. The Mortgage Guarantee Scheme does not cover shared ownership or shared equity purchases. The First Time Buyer ISA consultation says LISA money will not transfer into the new account, but both could be used towards the same purchase. Check each scheme's rules with your conveyancer.
Sources and how we checked them
Every factual claim on this page was written from the sources below, read on 1 October 2026. Rules and figures change, so check the source for the date you are reading this. Where we could not confirm something from an official or independent source, the page says so rather than guessing. Spotted something out of date? See our corrections policy.
- GOV.UK: Lifetime ISA (and printable guide) — age, limits, bonus, £450,000 cap, 12-month rule, withdrawal charge (accessed 1 October 2026)
- HM Treasury: Budget 2025 (26 November 2025), paragraphs 4.228 and 4.230 — LISA to be replaced; ISA limits frozen to 5 April 2031 (accessed 1 October 2026)
- HM Treasury: First Time Buyer ISA consultation (updated 29 June 2026) — proposed design; no upper age limit; closed 18 August 2026 (accessed 1 October 2026)
- GOV.UK: Shared Ownership scheme (who can apply, rent, staircasing) — income caps, eligibility and armed forces priority (accessed 1 October 2026)
- GOV.UK: First Homes scheme — discount, caps, local key worker criteria for 3 months (accessed 1 October 2026)
- MHCLG: National Planning Policy Framework (17 August 2026) — no reference to First Homes; exception sites removed (accessed 1 October 2026)
- HM Treasury: 2025 Mortgage Guarantee Scheme (rules) — permanent from July 2025; 91% to 95% LTV; shared ownership excluded (accessed 1 October 2026)
- GOV.UK: Stamp Duty Land Tax residential rates — standard rates and first-time buyer relief (accessed 1 October 2026)
- HMRC Stamp Duty Land Tax Manual SDLTM29805 (updated 1 September 2026) — £300,000 and £500,000 thresholds from 1 April 2025 (accessed 1 October 2026)
- MHCLG: new first-time buyer scheme to be confirmed at Budget (26 September 2026) — Your First Home announcement (accessed 1 October 2026)
- GOV.UK: Help to Buy equity loan and Help to Buy ISA — equity loan closed; ISA pay-in and bonus claim deadlines (accessed 1 October 2026)
- MHCLG: Help to Buy equity loan statistics to 31 March 2023 — closed to new applications on 31 October 2022 (accessed 1 October 2026)
- GOV.UK: Right to Buy discounts — maximum discounts by area (accessed 1 October 2026)
- MHCLG: Right to Buy overhaul (28 April 2026) and Social Housing Bill [HL] — proposed 10-year qualifying period; Bill not yet law at 1 October 2026 (accessed 1 October 2026)
- Welsh Government: Help to Buy – Wales and written statement of 27 July 2026 — applications until 31 March 2027; £300,000 cap (accessed 1 October 2026)
- Welsh Government: Land Transaction Tax overview — no first-time buyer relief in Wales (accessed 1 October 2026)
- Revenue Scotland: LBTT first-time buyer relief — nil-rate band raised to £175,000 for first-time buyers (accessed 1 October 2026)
- mygov.scot: Open Market Shared Equity scheme — Scottish shared equity priority groups (accessed 1 October 2026)
- Lenders' intermediary criteria: Santander, HSBC, TSB, Barclays, Halifax, Accord, Coventry (read 1 October 2026) — income multiples at higher LTVs and probation rules, as published by each lender (accessed 1 October 2026)
On this topic elsewhere
More in this guide series
Calculators and protection
Disclaimer
PolicePay.co.uk is an independent reference site. It is not a mortgage lender, broker or adviser, is not authorised by the Financial Conduct Authority and does not arrange, recommend or rank any lender, product or scheme. This page is general information, not regulated mortgage, financial or tax advice, and it cannot consider your circumstances. Lenders' criteria, rates and scheme rules change frequently: check the provider's own current terms and speak to an FCA-authorised mortgage adviser. Your home may be repossessed if you do not keep up repayments on your mortgage. Details apply to England and Wales unless stated. Details are as checked on 1 October 2026.