First time buyers priority for starter homes

August 11, 2015
new build home fronts

The Government will make available £36m to go towards the creation of thousands more starter homes for first time buyers, £26m of this will go towards indentifying and purchasing brownfield sites and the balance for local authorities to prepare more brownfield land for development.

Housing minister Brandon Lewis reportedly said: “Helping young people achieve their dream of home ownership is a real priority for this government. We’ve already helped more than 100,000 households buy a home through our ground-breaking Help to Buy scheme and starter homes are another game-changer.

“This fund will help kick-start that change and show young people across the country the quality they can expect when they buy a starter home. It’s further proof that this government’s long-term economic plan is on track, supporting the aspirations of hard-working people everywhere.”

The Government’s Housing Bill, which was published last month introduced a series of planning reforms to help get started the development of starter homes, as part of the starter home scheme new homes will be offered exclusively to first-time buyers under the age of 40 with a discount of 20 per cent on market values.

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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