The Ministry of Housing, Communities & Local Government has published a consultation paper on the design and delivery of First Homes. The aim of the initiative is to ensure that more new homes are available at a discount to local people, especially young first-time buyers, who would otherwise struggle to buy a home on the open market.
The Government believes that a 30% discount off market price should be the minimum level of discount under the scheme, although local authorities will have the discretion to set higher discounts on a site-by-site basis, to be negotiated with the developer. The Government proposes that local people should get first refusal on First Homes sold through the scheme, and that it is appropriate to prioritise first-time buyers and key workers. The consultation asks for input as to whether changes to planning policy to secure First Homes is sufficient, or whether legislation is needed. The consultation is open until 3 April 2020.
For more information please contact Gemma Dudley on 01223 532747 or click here
to email Gemma.