RICS Knowledgebase

First Homes are a form of affordable housing, sold to first-time buyers at a discount of at least 30 percent against market value. The percentage discount remains attached to the property in perpetuity, so that future first-time buyers can also benefit from the scheme. Local authorities can choose to set the discount at 40% or 50% instead of 30%.

RICS Guidance: https://www.rics.org/news-insights/rics-works-with-uk-government-on-first-homes-scheme

Government scheme guidance: https://www.gov.uk/affordable-home-ownership-schemes 

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