This article was published on Thu 27 Feb 2020. At the time of publishing, this article was true and accurate, however, over time this may have changed.
If you have any concerns about this please contact us
First-time buyers could benefit from a 30% discount
Thu 27 Feb 2020
The Government is consulting on a first-time buyer discount scheme to support first-time buyers wanting to own their own home in their local area.
The ‘First Homes’ scheme aims to give local people first refusal on buying a discounted new build home sold through the scheme – so they’re not priced out of the communities where they live and work.
According to the Government the scheme will ‘lower deposit and mortgage requirements – saving first-time buyers around £100,000 on average on the price of a new property.’
Priority will be given to serving and veterans of the Armed Forces and councils will be encouraged to allow front-line workers such as the police to be prioritised too.
The scheme will be funded through contributions that housing developers routinely provide through the planning system. The consultation ends on 3 April 2020.
For more information click here.
Type of article: Articles
Category: Owning a house
Return to News and Blog
Topical news