Property News · May 18, 2016

200,000 starter homes target too ambitious, say lenders


Government’s discount scheme for first-time buyers could destablise housing market, according to CMLMortgage lenders have warned that the government’s target of delivering 200,000 discounted first-time buyer homes by the end of this parliament is “too ambitious” and that the scheme could contribute to making the property market more unstable.Under the starter homes initiative, the government plans to relax planning restrictions to encourage developers in England to build properties that will be sold at a 20% discount on their market rate to first-time buyers under the age of 40. In March 2015, it said it wanted to deliver 200,000 of these new homes by 2020, alongside 135,000 shared ownership properties. Continue reading…

Source : theguardian.com
Read more…200,000 starter homes target too ambitious, say lenders

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