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200,000 discounted homes, more rent-to buy and other election promises

Posted on Friday 13th March, 2015

The election campaign is well and truly heating up with the Conservatives promising to build 200,000 discounted homes in England for first-time buyers if they win.

http://www.theguardian.com/society/2015/mar/02/david-cameron-plan-discounted-starter-homes-housing

The pledge doubles the original target, which was announced under the Starter Homes Initiative in December 2014. Buyers under 40 can already apply for a 20% discount on their first home, but if Cameron remains in power, twice the number of new properties will be available. The limit on value outside London is £250k, and in London it’s a maximum of £450k. Both are realistic for young home owners I think.

Other parties are wading in with their pledges too. Whether it’s doubling the annual housing target (Labour), increasing shared-ownership and rent-to-buy (Lib Democrats) or half a million social rented homes (Greens), many potential home owners (and tenants) are going to be paying close attention to attractive election promises.

No doubt, it’s going to be a close-run thing, but with home ownership at it’s lowest for 29 years younger voters could be swayed by policies that could give them a leg up on to the housing ladder.

http://www.moneyexpert.com/news/homeownership-falls-lowest-level-for-29-years/800583254

Whatever the outcome of the election in May, we are here to advise you on which mortgages are best for first time buyers.


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