I was interested to hear that the Prime Minister has recently launched a consultation on a scheme called the Starter Homes Initiative. This follows the other Government’s moves such as the Help to Buy mortgage guarantee and equity loan schemes to help first time buyers get their foot on the housing ladder. The consultation proposals include the introduction of a new national Starter Homes exception site planning policy so that builders can build starter homes on unused or previously unviable brownfield sites. These homes will only be available for first time buyers and are to be sold at a minimum 20% discount below open market value. I understand those that want to can register their interest for the scheme can do so here, email at: email@example.com or by post by writing to Andrew Short, Department for Communities and Local Government, Third Floor, Fry Building, 2 Marsham Street, London SW1P 4DF.
I welcome this scheme because it is not only another way the Government is trying to help first time buyers, it will also ensure the attractive redevelopment of pieces of land which have been previously disregarded. With rising house prices many struggle to buy their first house but if they can take advantage of this scheme, they will surely benefit.