Local MP, Caroline Dinenage, has welcomed the Government’s launch of First Homes.
First Homes will see a discount locked into a property to ensure more first-time buyers benefit in years to come. Local people unable to afford a home will be able to buy in their area, rather than be forced to look elsewhere by rising prices.
The scheme aims to lower deposit and mortgage requirements for local first-time buyers in England – shaking up the housing market and making the dream of home ownership a reality. The discount will apply to a proportion of new homes, with the government consulting on how this will be delivered.
Veterans will be prioritised as part of Armed Forces Covenant and councils will also be able to use the scheme for front-line workers in their area such as police, nurses, prison officers and teachers.
Housing Secretary Rt Hon Robert Jenrick MP said:
‘First Homes will be life-changing for people all over the country looking to buy their first home.
I know that many who are seeking to buy their own home in their local areas have been forced out due to rising prices. A proportion of new homes will be made available at a 30% market discount rate – turning the dial on the dream of home ownership.
The discount will be passed on with the sale of the property to future first-time buyers, helping thousands more people in years to come and ensuring local communities can stick together.’
Paula Higgins, Chief Executive of the Homeowners Alliance, said:
‘We know that first-time buyers will welcome the opportunity to buy a good quality home at a discount in their local area.
We look forward to contributing to the consultation and working with the government to ensure that the scheme does what it says on the tin - more high quality and affordable local homes for current and future first-time buyers.’
Commenting, Caroline said:
‘This is another fantastic announcement from the Government for many in the Gosport constituency including our local veterans.
It is great to hear that other front-line staff, such as nurses, police, teachers and prison officers will also be eligible.’