3/13/2023 0 Comments First time home buyer![]() The local council will check your application to make sure you’re eligible. You’ll get the fee back if your application is unsuccessful. You’ll have to pay a fee if the First Home you want to buy is a new build. They’ll help you to complete the application, then send it to the local council. How to applyĬontact the developer (or estate agent if you’re buying from a previous First Homes buyer) and tell them you want to buy a First Home. You must give them the same percentage discount that you got, based on the home’s market value at the time of sale. You can only sell the home to someone who is eligible to buy a First Home. The homes cannot cost more than £420,000 in London, or £250,000 anywhere else in England, after the discount has been applied. You can look for new homes in your area that are advertised by developers as part of the First Homes scheme.ĭevelopers offer these homes to first-time buyers with 30% to 50% of the market value taken off the price.Įvery home that’s sold is valued by an independent surveyor to make sure the discount is based on actual market value. You still need to meet other eligibility conditions. a veteran who left the armed forces in the last 5 years.a widow or widower of a deceased member of the armed forces (if their death was caused wholly or partly by their service).the divorced or separated spouse or civil partner of a member of the armed forces.You’re exempt from council conditions about being an essential worker or living in the area if you’re: The local council may also set some eligibility conditions.įor example, some councils may prioritise giving First Homes discounts to:Įxemptions for armed forces and their families buying the home as part of a household where total income is no more than £80,000 (or £90,000 if you live in London).able to get a mortgage for at least half the price of the home.The First Homes scheme is only available in England. a home you buy from someone else who originally bought it as part of the scheme.This offer is called the First Homes scheme. If you’re a first-time buyer, you may be able buy a home for 30% to 50% less than its market value.
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