Have you heard about the First Homes scheme?
An exciting new government initiative has arrived and it’s bringing big discounts for local first-time buyers and key workers, which could enable you to purchase a brand-new home in the places you live or work at a hugely reduced cost!
Here’s what you need to know:
- The scheme provides properties sold with a minimum discount of 30% below the market value, but at our scheme at Emerson Park it’s 40%.
- To qualify, you’ll need to have a household income not exceeding £80,000 and take out a mortgage of at least 50% of the property purchase price.
- You’ll need to have a local connection to Great Abington or Little Abington
- First-time buyers, members of the Armed Forces and key workers such as NHS nurses, police and teachers will be prioritised.
- A minimum 5% deposit of the discounted purchase price is required, depending on the property and mortgage eligibility.
- A First Home should be the buyers only home and they will have full ownership.
- The discount will be passed on to future buyers, meaning that generations of new buyers and the local community will benefit each time the property is sold.
First Homes will be available on a limited number of new-build properties and Laragh Homes is now offering this scheme on the amazing apartments at Emerson Park in South Cambridge. While demand is expected to be high due to the savings on offer, you can talk to our expert team today at firsthomes@laragh.co.uk
