Today, the Government has launched our flagship First Homes scheme, offering discounted homes for local first-time buyers and key workers, providing an affordable route into home ownership for even more people who want to own their own home.
Owning a home in your local area should not be the preserve of a small number of people, but a mainstream, realistic and affordable option for people across the country. That is why the Government has today launched our new First Homes scheme, which will help local first-time buyers and key workers– from front-line doctors and nurses to delivery drivers and supermarket staff - onto the housing ladder by offering homes at a 30%, ensuring that homeownership remains an affordable option for local people.
That same percentage will then be passed on with the sale of the property to future first-time buyers, meaning homes will always be sold below market value – benefitting local communities, key workers, and families for generations to come.
First Homes follows on from the 95% mortgage guarantee scheme which helps first-time buyers secure a mortgage with just a 5% deposit and the Government’s ‘Own Your Home’ campaign showcasing the range of flexible home ownership options available. The campaign highlights the support available to help make home ownership a realistic and affordable option for more people than ever.
First-time buyers can find the right scheme for them via the Own Your Home website which provides a single gateway for all routes to home ownership. The website is an easy and accessible way for first-time buyers to start their home ownership journey and find the right Government scheme for them.
The Government’s flagship First Homes scheme will help more local people and their families buy a home in their local area rather than being forced out due to rising prices – levelling up opportunity across the country.
For more information on the First Homes scheme, including comments from the Housing Secretary, please visit: https://www.gov.uk/government/news/discounted-homes-for-key-workers-and-local-residents-as-flagship-first-homes-scheme-launches.