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Discounted homes for key workers and local residents
Discounted houses for local people and key workers will be made available as the new First Homes scheme launches to help local first-time buyers.
The First Homes scheme will help local first-time buyers – many of whom will be key workers like NHS staff and veterans – onto the property ladder by offering homes at a discount of at least 30 per cent compared to the market price.
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, which the government says will benefit local communities, key workers, and families for generations to come.
The first First Homes properties went on the market on 4 June as part of the first phase of an early delivery project in the Bolsover district, East Midlands, with the Housing Secretary Robert Jenrick in attendance. Further sites are set to launch across the country in the coming weeks.
The government says that a further 1,500 will enter the market from the autumn, with at least 10,000 homes a year being delivered in the years ahead and more if there is demand.
Jenrick said: “Enabling more people to buy their own homes is at the heart of the mission of this government, and First Homes will offer a realistic and affordable route into home ownership for even more people who want to own their own home.
“Thanks to 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 also support our fantastic key workers who are looking to get their first foot on the housing ladder – from front-line doctors and nurses to delivery drivers and supermarket staff – by giving many of them the chance to buy a home at a 30 per cent discount. These homes will be locked in for perpetuity to first-time buyers and key workers from their local area – making them an asset to both their owners and the wider local community.”
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