{
  "id": 16177112,
  "title": "Earnings limit of up to £140K for first-time buyers loan scheme",
  "url": "https://urgent.news/2026/10/23/earnings-limit-of-up-to-140k-for-first-time-buyers-loan-scheme",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-23T10:49:36.000Z",
  "source": {
    "name": "BBC News",
    "slug": "bbc-news",
    "url": "https://www.bbc.co.uk/news/articles/c6n8dex0zeg9o?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "The government is set to roll out a new loan scheme offering up to £140,000 for first-time buyers in London, or £110,000 for homes outside the capital, according to The Times. The eligibility criteria for the Your First Home scheme, which will be confirmed during the upcoming Budget, will require households to earn less than £110,000 or £140,000, respectively. The Your First Home scheme will provide government-backed equity loans worth 20% of the purchase price in new-build properties bought from participating developers in England. The loans will come with an initial interest-free period, designed to enable people to purchase homes with as little as a 2.5% deposit. Previous first-time buyer schemes lacked income restrictions but were criticized for potentially driving up house prices by allowing relatively wealthy households to borrow more. Prime Minister Andy Burnham, who unveiled the scheme at the Labour conference last month, stated that it would focus on those \"who really need support.\" The government argues that the scheme will aid housebuilding efforts, as they are projected to fall short of their target to build 1.5 million homes in England by the next election. The Home Builders Federation, representing developers, supports the proposal and encourages the government to expedite the scheme's implementation. The Conservatives, however, label the plan a \"colossal admission of failure\" of the Labour party's housebuilding record and express concerns about potential price hikes for new homes due to the new developer levy.",
  "summary": "The Your First Home scheme will offer government-backed loans for those buying new-builds in England.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}