Richard Wollacott

Partner

Residential Property


New scheme launched for first time buyers

Richard Wollacott

The government has recently launched a consultation on a proposed new scheme for first time buyers purchasing newly built homes.

The starter home initiative will offer a 20% discount to an estimated 100,000 first time buyers under the age of forty. House builders will be able to develop under-used or unviable brownfield land free from other levies or restrictions. In return, developers will be able to offer new homes at a minimum of 20% discount exclusively to first time buyers.

The consultation closes on 8th February 2015. 

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