Govt sets out more details of First Homes Scheme
By
Leah Milner
25
th May 2021
4:16 pm
The government has set out further details of the eligibility criteria and planning guidance for its First Homes Scheme, which will offer buyers a discount of between 30% and 50% on new properties from the end of June.
However, concerns have been raised that the scheme could have a negative impact on the supply of social rented homes.
In a written ministerial statement yesterday, housing minister Christopher Pincher said that the homes would only be offered to those buying with a mortgage of at least 50% of the property’s value, in a bid to deter investors from taking advantage of the scheme.