Discounted homes for key workers and native residents
Discounted houses for residents and key workers will be made available because the new First Homes scheme launches to assist local first-time buyers.
The First Homes scheme can help local first-time buyers – a lot of whom is going to be key workers like NHS staff and veterans – onto the property ladder by providing homes at a discount of at least 30 per cent compared to the market price.
That same percentage will be handed down using the sale from the property to future first-time buyers, meaning homes will be sold below market value, which the government says may benefit local neighborhoods, key workers, and families for generations to come.
The first First Homes properties went on the marketplace on 4 June as part of the first phase of an early delivery project in the Bolsover district, East Midlands, using the Housing Secretary Robert Jenrick in attendance. Further sites are set to launch across the country within the coming weeks.
The government says that a further 1,500 will enter the market in the autumn, with at least 10,000 homes a year being delivered within the years ahead and more when there is demand.
Jenrick said: “Enabling more people to purchase their very own homes is at the center from the mission of this government, and First Homes will offer you a realistic and affordable route into owning a home for even more and more people who want to own their very own home.
“Because of First Homes, we will offer more homes to local people and families, providing a route for first-time buyers to stay in their local areas rather than being forced out due to rising prices. First Homes will even support our fantastic key workers who are wanting to get their first foot on the housing ladder – from front-line doctors and nurses to delivery drivers and supermarket staff – by providing most of them the opportunity to buy a home at a 30 percent discount. These homes will be locked in for perpetuity to first-time buyers and key workers from their neighborhood – making them an asset to both their owners and also the wider local community.”
