The government is introducing a series of measures to boost housebuilding so more young people can own their own home. The key measures include building discounted homes for first time buyers on all “reasonable-sized” developments, unlocking public land for hundreds of thousands of new homes and supporting small building firms with planning changes. Prime Minister
More than 100,000 homes throughout the UK have now been bought through the Help to Buy schemes, according to the latest government figures. Eight out of ten of these homes went to first time buyers at an average cost of £184,000. More than 90% of the purchases were outside London, and more than 50% of
The Right to Buy scheme is being extended to 1.3 million housing association tenants across England. The scheme was previously only available to council house tenants. The change was announced in the Queen’s Speech and will be part of a new Housing Bill that will enable housing association tenants to buy their homes at substantial
Thousands of people under the age of 40 have been signing up to buy starter homes at a 20% discount. The homes are being made available as part of a government scheme to get Britain building and help young people get on the housing ladder. It’s hoped that 100,000 new homes will be made available.
Help to Buy ISAs offering first time buyers a 25% bonus on their savings have proved to be one the most talked about elements from George Osborne’s Budget statement. Some commentators fear they may push up house prices, but they’re likely to prove hugely popular with young people who have found it difficult to raise
Social housing tenants could be offered up to £30,000 to enable them to leave their rented accommodation and buy their own home. The move is an extension to the Right to Buy scheme, which has been running for several years and has enabled nearly 2 million tenants to buy their home at discounted prices. Although
It could soon be easier for people in shared ownership homes to sell their property. The government funded schemes enable people to buy a share in a property, with a registered housing provider owning the rest. Typically, a purchaser may buy a 50% share in the home with the option of increasing their stake if
The number of first-time home buyers in 2014 was at its highest level for seven years, according to the Halifax bank. This was in spite of the fact that house prices rose by an average of 8.5% last year. The Halifax says that 326,500 people bought their first home last year – a 22% increase
New homes are to be offered at a minimum 20% discount to first-time buyers under the age of 40. The Starter Home initiative is a government scheme to help young people on to the housing ladder and encourage construction firms to build more homes. It’s hoped that up to 100,000 buyers will benefit. The initiative
Changes to stamp duty announced in the Autumn Statement by Chancellor George Osborne have helped stimulate the housing market, according to solicitors and estate agents. Mr Osborne said 98% of people in England and Wales will now pay less duty when buying a property. Only those buying homes worth more than £937,000 will be worse