View more on these topics

Government to build thousands of discounted FTB homes on brownfields

A Latin descent construction worker, supervisor, contractor, inspector, architect, or engineer inspects the work at a construction site.  Framed house, building in background. Lumber.  He is wearing a hard hat and a safety vest and holds a clipboard as he points towards the framed building.  Rear view.

The government will build thousands of discounted homes for first-time buyers this year on brownfield sites, according to housing minister Gavin Barwell.

The Government says that local authorities areas in England will get cash from the £1.2bn Starter Homes Land Fund for the new buildings.

The thirty areas include Blackpool, Bristol, Sheffield and Luton, and the properties are set to go on sale in 2018.

Buyers must be between 23 and 40 and will get a discount of at least 20 per cent below market value.

The discounts will apply to properties prices of up to £250,000 outside London and £450,000 inside.

Barwell says: “This government is committed to building starter homes to help young first-time buyers get on the housing ladder.

“This first wave of partnerships shows the strong local interest to build thousands of starter homes on hundreds of brownfield sites in the coming years. One in three councils has expressed an interest to work with us so far.”



FTB sales hit record highs in October, says NAEA

The National Association of Estate Agents has said the number of first-time buyers purchasing homes was at record highs in October. Figures from the association show that a third (32 per cent) of sales in October were made to FTBs, a 9 per cent rise on September and the highest number since NAEA record began […]


Accord to pay FTBs an extra £500 on completion

Accord Mortgages is giving first-time buyers an extra £500 cashback when they complete on a mortgage. From 18 November all first-time buyers completing on fixed rate mortgages at 90 or 95 per cent LTVs will be eligible for the extra cashback. It will be paid on top of all other incentives, with the largest cashback […]


Give FTBs more help, brokers urge Hammond

More help for first-time buyers is a top priority for mortgage brokers as they set out their wishlists ahead of the chancellor’s Autumn Statement on 23 November. Many advisers have also called for Philip Hammond to reverse or reduce the impact of cuts to tax relief on mortgage interest for landlords. However, most remain sceptical […]


News and expert analysis straight to your inbox

Sign up