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UK government to cut the cost of new homes

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Christian Fernsby ▼ | February 7, 2020
A new generation of homeowners will be able to take their first step on to the housing ladder thanks to a scheme cutting the cost of some new homes by a third, Housing Secretary Robert Jenrick has announced today).
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First Homes 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.

Topics: Home UK

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.

Veterans will be prioritised as part of Armed Forces Covenant and councils will also be able to use the scheme for front-line workers in their area such as police, nurses, prison officers and teachers.