ILKLEY MP Robbie Moore praised a program that makes homes available at reduced prices for locals and key workers as part of the government’s flagship housing program ‘First Homes’ – which is launched today. hui.
The First Homes program will help local first-time buyers – many of whom will be key workers like NHS staff and veterans – to access the property ladder by offering homes at a minimum of 30% off the market. market price. This could save each buyer an average of Â£ 70,000, making deposits and mortgages more affordable. In some areas, the discount can be as high as 50%, resulting in even greater savings.
This same discount will then be passed on to the sale of the property to future first-time buyers, meaning that homes will always sell below market value, which will benefit local communities, key workers and families for generations to come.
The program will support local people who find it difficult to pay market prices in their area, but wish to stay in the communities where they grew up and work.
This news follows the 95 percent mortgage guarantee program that helps first-time homebuyers get a mortgage on just a 5 percent deposit and the government campaign “Own Your Home” showcasing the range of homebuyers. flexible home ownership options available.
Mr. Moore said: âI am a great advocate for real estate ownership. It gives individuals and families security of life without fear of regular evictions and unaffordable rents, and provides greater financial stability to household incomes. So I’m delighted that the ownership ladder has been extended again so that more people can become homeowners.
âThis program will allow the local population to stay in the area where they grew up and to continue to count on the support of their family and friends, which has become increasingly evident since the start of the pandemic.
âWe have many areas in Keighley and Ilkley where people are being forced out of the local housing market due to unaffordable housing prices. This policy will protect first-time buyers from this and tackle this ever growing problem in the real estate market.
âI am also delighted that key workers, who have been the heroes of the past 16 months, are included in this program, which means that anyone among supermarket workers, nurses, delivery drivers and veterans, among many others, will benefit from it. of this diagram.
The diet has proven to be controversial in some quarters. Shelter warns that it will pose a threat to the supply of social housing. The charity says the policy risks pushing out desperately needed social homes, at a time when increasing numbers of people are on the verge of homelessness.