Contact Us
Sally Botham Estates
27 Bank Road
Matlock
DE4 3NF
01629 760899
enquiries@sallybotham.co.uk
London
Tel: 020 7318 7087
First-time buyers aged
between 23 and 40 may soon be able to buy a new home at a discount of a least
20% below market value, under the government’s ‘Starter Home’ initiative.
The properties will
start being built this year, the housing minister Gavin Barwell confirmed at
the beginning of the New Year, with an initial group of 30 local authority
partnerships leading the schemes.
Funding will be
supported by the government’s £1.2 billion Starter Homes Land fund, which was
established last April.
The fund was set up
to assist the aim of building 200,000 Starter Homes by 2020 on brownfield sites
in England, such as those currently or previously used for commercial or
industrial purposes.
However, critics of
the scheme claim that as the maximum price after the discount has been applied
will be £250,000 outside London and £450,000 in the capital, the new properties
won’t be affordable for many first-time buyers.
It’s expected that
they won’t be able to sell on or let their Starter Homes at their open market
value for a period of at least five years after the initial sale.
Sally Botham Estates
27 Bank Road
Matlock
DE4 3NF
01629 760899
enquiries@sallybotham.co.uk
Tel: 020 7318 7087
As market leaders for over 22 years, we are proud to be one of Derbyshire's most trusted estate agents. With our expert advice, honest and ethical communication, and a professional yet personal service, we are ready and excited to help you with all your property needs.
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