Starter Homes Scheme For First Time Buyers
What is the starter home scheme?
It is a UK Government backed scheme that offers a 20% discount on new build homes from developers purely for first time buyers.
Are you eligible for a Starter Home?
If you are under 40 and a first time buyer then this could be the scheme for you.
You have the potential to be gifted 20% of the value.
Your Obligation – You cannot sell the property that you have bought for full market price for 5 years.
How can Developers and Home Builders provide such a discount?
It is simple really, If developers are supported in their build costs then the selling price of a property can come down.
The UK Government wins as follows :-
- An increase in New build developments to meet demand.
- A solution that is tailored to drive the economy as more materials and labour will be required.
- Less benefits will be paid out as unemployment will fall.
- Locations that are suitable to support the demand can be prioritised.
What sounded to be an expensive solution to help first time buyers, is a well thought out plan from the government, where everyone wins.
Register your interest in the Starter Homes Scheme
Get yourself registered for the scheme online at www.new-homes.co.uk
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