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David Cameron to launch 20% home discount scheme for first-time buyers

Prime Minister David Cameron has announced a new scheme offering 100,000 first-time buyers new homes with a 20% discount, as part of a major push to help people onto the housing ladder.

Aspiring home owners will be asked to register their interest in buying via the Starter Home initiative from the start of next year – at least 6 months earlier than planned.

Many of the country’s house builders and councils are already looking at sites that could be used for new homes according to the government.

It was announced that there will be a change to the planning system to free under-used or unviable brownfield land from planning costs and levies in return for a below market value sale price on the homes built on the site.

100,000 homes will be available to first time buyers under 40 as part of the Starter Homes initiative – and work on the first raft will start next year.

Prime Minister David Cameron said: “Hardworking young people want to plan for the future and enjoy the security of being able to own their own home. I want to help them do just that.

“Under this scheme, first-time buyers will be offered the chance of a 20% discount, unlocking home ownership for a generation.

“This is all part of our long-term economic plan to secure a better future for Britain, making sure we are backing those who work hard and get on in life.”

This was posted in Bdaily's Members' News section by Clare Burnett .