The Starter Home Initiative aims to help young first-time buyers (below 40 years) purchase a home with a minimum 20% off the market price
Who is eligible?
Starter homes will be built on brownfield land that is not currently identified for housing, and the scheme has been outlined with the following eligibility:
- Homes will be reserved for first-time buyers under the age of 40
- Homes will be sold at a 20% discount against the market price in the area
- Resale of the home, at full market price, will be restricted for a period of time (at least five years)
- The government is targeting building 10,000 homes through the scheme over the next five years
- The scheme only applies to England as it is currently set out
- For more information on the scheme, and to register your interest, please visit the New Homes website.
- All your questions can be answered in the FAQ section.