16 Jul

Flint announces plans to help first-time buyers

Flint announces plans to help first-time buyers

Housing minister Carline Flint has today announced a number of measures and reforms intended to help those struggling to get onto the property ladder.

First-time buyers may be helped by a new pilot scheme called Rent to Home Buy, which will offer a discounted rate of rent of 80 per cent of the market rent or less. This will enable tenants to save for their own home.

Eligible households who have an annual income of £60,000 or less will be entitled to the reduced rent for two to three years. They will then be offered a part share in the home, under the proposed scheme.

The proposal would allow first-time buyers to benefit from greater choice and flexibility.

Ms Flint described the plans as "ambitious, but also practical and realistic".

"The package being announced today will both help people facing difficulties right now, and lay the foundations to help meet the long term housing needs of the country," she said.

While the aim to build more homes was welcomed by the Town and Country Planning Association, its chief executive Gideon Amos said more could be done to provide new land for building homes.
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