First Time Home Buyers — Shared Equity Assistance

About this scheme

Helps first-time buyers get on the property ladder through equity loans of up to 30% of the purchase price. Two options: First Home Fixed (discounted approved properties — 2-bed apartment up to £150,000; 3-bed house up to £185,000) and First Home Choice (any open market property of 55 sqm or more). The Department takes an equivalent share in the property value.

Eligibility

5+ years IoM residence; never previously owned property; income limits apply (single up to £33,000–£39,000; couples up to £44,000–£62,000 depending on scheme).

Requires 5+ years Isle of Man residency.

Suitable for

What you can use it for

How to apply

Contact DoI Customer Service on 685955; register for First Home Fixed or get approval in principle for First Home Choice