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South east London estate agents expect raft of first-time buyers thanks to new Starter Home initiative

The current Government have announced a third home buying scheme, this time designed to get first-time buyers on the housing ladder. You may have missed the important announcement as it came just before Christmas and shortly after the stamp duty reform in the Chancellor's Autumn Statement. The news is good, agree south east London estate agents, with the promise of 100,000 new homes being built and offered at a discount. The latest addition to the Government-led set of initiatives is called 'Starter Home' and the idea has been fast-tracked six months, ahead of the general election in May. Potential buyers can register their interest from January 2015 onwards, say south east London estate agents. Starter Home is an extension of the Help to Buy scheme and will see tranches of brownfield land across the country used to build 100,000 new homes exclusively for first-time buyers under the age of 40. The homes will be available to buy with a 20% discount, saving £40,000 off a home priced at £200,000. Work is expected to start on the build programme in 2015, with Sir Terry Farrell and Sir Quinlan Terry among the architects tasked with designing lower cost, high quality homes. Winkworth is eagerly awaiting details of the schemes to see if any properties for sale in south east London will fall under the new initiative. First-time buyers in south east London now have a trio of reasons to make the move into home ownership. The Government has announced that the Starter Home initiative can be used in conjunction with a Help to Buy mortgage (which gives access to more attractive mortgage rates with a small deposit) and with the stamp duty reform, creating savings for first-time buyers that run into thousands of pounds. The Government is making Starter Home possible by lifting some of the taxes and property regulations that are applicable to house builders, with the savings being passed on to first-time buyers. Winkworth is pleased to welcome the new initiative to the property market as all movement on the buying scene will help south east London's buyers and sellers, and the wider economy. If you are first-time buyer and would like to talk through your home buying and mortgage options, please contact Winkworth today.  

The current Government have announced a third home buying scheme, this time designed to get first-time buyers on the housing ladder. You may have missed the important announcement as it came just before Christmas and shortly after the stamp duty reform in the Chancellor's Autumn Statement. The news is good, agree south east London estate agents, with the promise of 100,000 new homes being built and offered at a discount.

The latest addition to the Government-led set of initiatives is called 'Starter Home' and the idea has been fast-tracked six months, ahead of the general election in May. Potential buyers can register their interest from January 2015 onwards, say south east London estate agents.

Starter Home is an extension of the Help to Buy scheme and will see tranches of brownfield land across the country used to build 100,000 new homes exclusively for first-time buyers under the age of 40. The homes will be available to buy with a 20% discount, saving £40,000 off a home priced at £200,000. Work is expected to start on the build programme in 2015, with Sir Terry Farrell and Sir Quinlan Terry among the architects tasked with designing lower cost, high quality homes. Winkworth is eagerly awaiting details of the schemes to see if any properties for sale in south east London will fall under the new initiative.

First-time buyers in south east London now have a trio of reasons to make the move into home ownership. The Government has announced that the Starter Home initiative can be used in conjunction with a Help to Buy mortgage (which gives access to more attractive mortgage rates with a small deposit) and with the stamp duty reform, creating savings for first-time buyers that run into thousands of pounds.

The Government is making Starter Home possible by lifting some of the taxes and property regulations that are applicable to house builders, with the savings being passed on to first-time buyers. Winkworth is pleased to welcome the new initiative to the property market as all movement on the buying scene will help south east London's buyers and sellers, and the wider economy.

If you are first-time buyer and would like to talk through your home buying and mortgage options, please contact Winkworth today.

 

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