First Time Buyers Guide: Introducing a new proposal - First Homes Scheme

An insight into the First Homes Scheme which assists you in getting on the property ladder to secure your first home!

The Government have pledged 30% discounts on a selection of new homes across the United Kingdom.

The new First Homes scheme will slash the market rates of some new-build homes by a third. The scheme, which was originally proposed in the Conservative Party manifesto, replacing the Starter Homes Scheme which would allow first-time buyers and local key workers to purchase a property in their local area for an average of nearly £100,000 below market value.

First Homes would oversee the building of ‘tens of thousands’ of new homes. First Homes will be purpose-built flats and houses on developments across England, which will be sold at a discount of ‘at least 30%’.

The homes will be sold to ‘local people who want to stay in the community where they live or work, but are struggling to buy a home at market prices’. This discount means that a first-time buyer could theoretically buy a £300,000 home for £210,000.

Stay tuned for our monthly digest now known as GMA's First Time Buyers Guide to put your heart where your home is and start building the blocks to a brighter future, brighter you and a brighter life!