london – A new scheme offering 100,000 first-time buyers new homes with a 20% discount is announced today by the Prime Minister.
The Prime Minister will today (15 December 2014) launch a new scheme that will offer 100,000 first-time buyers new homes with a 20% discount, as part of a major push to help people onto the housing ladder.
Aspiring home owners will be asked to register their interest in buying via the Starter Home initiative from the start of next year – at least 6 months earlier than planned. And many of the country’s leading house builders and councils are already looking at sites that could be used for new homes.
The government is today setting out how the scheme will work with a change to the planning system to free under-used or unviable brownfield land from planning costs and levies in return for a below market value sale price on the homes built on the site.
100,000 homes will be available to first time buyers under 40 as part of the Starter Homes initiative – and work on the first raft will start next year.
t the heart of the Starter Homes initiative is a change to the planning system. This will allow house builders to develop under-used or unviable brownfield land and free them from planning costs and levies. In return, they will be able to offer homes at a minimum 20% discount exclusively to first time buyers, under the age of forty. Currently, builders can face an average bill of £15,000 per home in Section 106 affordable housing contributions and tariffs, often adding tens of thousands to the cost of a site.