Boris Johnson Announces Affordable Housing Scheme With 30 Per Cent Discount For First-Time Buyers
30 June 2020, 12:42
Prime Minister Boris Johnson has outlined plans to get the country’s economy growing again, including an affordable housing scheme.
During a speech at Dudley College of Technology Boris Johnson today (30 June) announced a new affordable housing scheme, as part of the government’s plans to get the country back on its feet amid the coronavirus pandemic.
The Prime Minister’s new housing plan will include an easier strategy in building better homes and discounted properties for first-time buyers.
New rules mean buildings and land in town centres will be able to be developed without planning permission requests, meaning new homes can be created from empty buildings.
Property owners will also be able to build “additional space” above their properties through a “fast track approval process”.
The changes are planned to come into effect by September.
Boris Johnson called the plans unveiled today, “the most radical reforms of our planning system since the end of the second world war.”
The government said the changes would allow unused buildings to be repurposed, creating homes without putting pressure on the greenbelt.
Some types of property, including community pubs and libraries would be exempt from the new scheme.
For first-time buyers, it means they can get a discount of 30 per cent on new build homes.
A 1,500 unit pilot of ‘First Homes’ will be sold to first-time buyers who want to stay in their community but are struggling to find a home at market prices.
The discount will then be passed on to future buyers when First Homes are re-sold, so more people can be helped onto the property ladder.