This week the government announced that it will find £5billion to solve the housing crisis, a long awaited House Building Fund to inject a new lease of life into the British housing situation. But political talk aside and in laymen’s terms, what does this mean for you?
- Builders will be trained to use more modern building techniques to deliver homes twice as quickly
- Surplus public land will be used to create new communities and homes rather than being wasted space
- More affordable housing will be provided for young families and young professionals struggling to save a deposit
So all in all, is this a positive for first time buyers? We think so as with more affordable houses to choose from in areas that people want to live in, first time buyers can rest assured that there are options out there.
Keepmoat homes are ideal for first time buyers as they are available to buy with the Help to Buy scheme which only requires a 5% deposit and affordable mortgage payments. The Help to Buy ISA means that you can get help with your deposit too, with the government boosting your savings for your deposit up to 25%, with a maximum of £3,000.
Let us know your thoughts on the new House Building Fund below.
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