A new generation of homeowners will be able to take their first step on to the housing ladder thanks to a new government scheme which will cut the cost of some new homes by a third.
Known as First Homes, the scheme will see a discount locked into the property to ensure more first-time buyers benefit in years to come. Local people unable to afford a home will be able to buy in their area, rather than be forced to look elsewhere by rising prices.
The scheme will lower deposit and mortgage requirements for local first-time buyers in England – shaking up the housing market and making the dream of home ownership a reality. The discount will apply to a proportion of new homes, with the government consulting on how this will be delivered.
Welcoming the announcement of the scheme, Andy Carter MP for Warrington South said:
“Hardworking people deserve the opportunity to own their own home, but too many first-time buyers here in Warrington South have been forced out of buying due to rising prices. This is why I really welcome the First Homes scheme, it will be life changing for people across Warrington who are looking to buy their first home.
“The scheme will make a huge difference, we will be cutting the cost of qualifying new homes by a third - lowering the deposit and mortgage requirements for local first-time buyers in England. Under this new scheme, eligible first-time buyers will save on average around £100,000.
“Housing is a key issue for Warrington, and that’s why I’ll prioritise brownfield sites, like Fiddlers Ferry, and ensure we have the supporting infrastructure such as new schools, roads and health facilities they need.”
