Blackpool MP hails Government changes which aim to help first time buyers

Blackpool North and Cleveleys MP Paul Maynard has said a new Government scheme in the making will help first time home owners get on the property ladder.
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First Homes, aims to cut the cost by 30 per cent and see the discount locked into the property in any future sales.

It will lower deposit and mortgage requirements for local first-time buyers and apply to a proportion of new homes. The Government is now consulting over the plans which would see the cost of the discount come from the contributions that housing developers routinely provide in the planning system.

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Mr Maynard said: “Hardworking people deserve the opportunity to own their own home, but too many first-time buyers here in Blackpool North and Cleveleys have been forced out of buying due to rising prices.

Blackpool North and Clelveleys MP Paul MaynardBlackpool North and Clelveleys MP Paul Maynard
Blackpool North and Clelveleys MP Paul Maynard

"This is why I really welcome the First Homes scheme, it will be life changing for people across Blackpool North and Cleveleys who are looking to buy their first home. Under this new scheme, eligible first-time buyers will save on average around £100,000.” It may also apply to veterans, police, nurses and teachers.