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Gov: 20% of new homes to be starter homes

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Gov: 20% of new homes to be starter homes

Under new government proposals published today, new housing development sites that have 10 or more properties on them will have to make 1 in 5 of those properties a starter home.

Under the new scheme, starter homes will be available at a minimum 20% discount below market value first time buyers under 40 as part of the government’s pledge to build 1 million new homes, including affordable housing for sale, rental and private purchase.

Housing and Planning Minister Brandon Lewis said: "We want to ensure young people who aspire to own their own home can settle down and enjoy the security home ownership brings. This is why we have committed to building 200,000 high quality homes exclusively for first time buyers backed by £2.3 billion government funding to get building underway including on brownfield sites.

Today’s proposals mean starter homes will be built on hundreds of housebuilding sites across the country, encouraging private and affordable housing is built side by side in mixed communities.

The government’s starter homes support package is £2.3bn for a first wave up to 60,000 starter homes, including £1.2bn for brownfield land housebuilding.


Other measures proposed in the consultation include:

- starter homes can only be resold to other first time buyers, at a discount, for 5 to 8 years after purchase; this is to ensure the homes benefit genuine first time buyers and to discourage speculative buying

- restrictions also on sub-letting so starter homes are not buy-to-let opportunities

- allowing joint purchasers where one partner is above 40 and one below to be eligible for a starter home

Also under the proposals injured military personnel and partners of those who lost their lives in service would be eligible for a starter home at any age, rather than see a cut off at age 40.

The move will help this group who may otherwise face issues accessing the starter homes scheme.

Brandon Lewis said: "It’s absolutely right that we provide help and homes for our heroes, that is why we’re proposing that starter homes should be available to injured soldiers and partners of those who have made the ultimate sacrifice for our country."

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HMO Midlands Landlady
HMO Midlands Landlady 24 May 2016

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Johna
Johna 20 May 2016

"Easier said than done" is what I would say. Of course, it would be more than great to have more in quality and affordability, but I do not trust talk anymore.. What is said is not what is happening.

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Johna
Johna 20 May 2016

in my humble opinion being fair like THE most important! I myself have had bad experience with unfair landlords... not to mention that I know how to do a proper end of tenancy cleaning since I am a fantastic...

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richardrawlings 18 May 2016

NB - even if we doubled our commission levels in the UK, we'd still be by far the cheapest agents in the entire world.

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Agent_PeeBee 18 May 2016

Clueless. Someone needs to take these people's computers away from them so they can do no more harm than they already have.

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