- House builders invited to bid for share of £150 million to
support roll-out of First Homes scheme helping local people onto
the housing ladder.
- Today’s package will deliver 1,500 new First Homes by March
2023
Home builders across England can today (11 August 2021) bid for
their share of a £150 million package by offering plots for sale
as First Homes, the flagship government scheme aimed at
first-time buyers and key workers.
House builders are being invited to work with the government to
deliver First Homes across the country in the coming months, with
the aim of delivering 1,500 homes by March 2023.
First Homes helps local first-time buyers and key workers onto
the property ladder by offering homes at a discount of at least
30% compared to the market price. The same percentage will then
be passed on with the sale of the property to future first-time
buyers. This means homes will always be sold below market value -
benefitting local communities and families for generations to
come.
The contract award will give housebuilders the opportunity to
engage with local councils and mortgage providers, understand the
expected level of customer demand and to learn more about the
delivery process ahead of the full roll out through planning.
Today’s package follows the initial introduction of First Homes
earlier this summer, where local sites were opened up in
Bolsover, East Midlands, developed by Keepmoat Homes, and
Cannock, West Midlands, developed by Vistry Partnerships.
Leeds Building Society recently received the first mortgage
application for a First Homes property as more homes come onto
the market.
Housing Secretary RT Hon MP said:
It is great to see the First Homes scheme gaining momentum and
I am happy to invite house builders to deliver this flagship
house building programme across the country.
Lenders have already seen the first mortgage applications come
in as more homes come onto the market. It will support local
communities and give local people a greater chance of getting
on the housing ladder and having a place which they can call
their own.
Just as importantly, homebuilders of all shapes and sizes will
now be able to benefit from this scheme while helping
first-time buyers and key workers onto the property ladder.
Peter Freeman, Chair of Homes England said:
The Early Delivery Programme is a great opportunity for
housebuilders, housing associations and the wider development
sector to get to grips with First Homes. We look forward to
working with partners to help aspiring homeowners realise their
ambitions and own their own home.
Councils will also be able to prioritise the homes for
keyworkers such as nurses and teachers who have been looking to
get on the housing ladder while supporting their community
throughout the pandemic.
More information for house builders on the invitation to tender
(ITT) is available on Procontract.
