The First Homes Scheme was designed by the UK Government to help local first-time buyers and key workers onto the property ladder by offering homes at a discount of 30% compared to the market price.
Under this scheme, a portion of new homes being built will be sold to first-time buyers who meet the eligibility criteria.
- First-time buyers with a household income not exceeding £80,000 and £90,000 in London (or lower if set by local authority)
- First Home should be the buyers only home a purchaser will need to use a mortgage or home purchase plan for at least 50% of the purchase price of the home
- Local connections and/or key worker status as determined by the relevant local authority
- Post-discount price caps on first sale of the property of £250,000 across England and £420,000 in London (or lower if set by the local authority)
More information about this scheme and how to apply will be outlined on the Own Your Home Government website: https://www.ownyourhome.gov.uk/
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