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Discount for BuyersSell My House Quickly found another interesting article about properties in Ealing. Homes with 30% discount for first-time buyers go on sale.

Houses with “locked-in” 30% discounts for first-time buyers are due to go on the market. With councils able to prioritise front-line workers looking to get on the property ladder.

The debut batch of properties as part of the First Homes scheme were set to be put up for sale on Friday. With Housing Secretary Robert Jenrick visiting the East Midlands site to mark the start of the “route for first-time buyers to stay in their local areas” in the face of rising house prices.

The discounted houses will be available to first-time buyers for almost a third off compared with the market price, the Ministry of Housing said.

That same 30% will then be passed on with the sale of the property to future first-time buyers. It means homes will always be sold below market value to later generations, according to the department.

Officials said councils will be able to prioritise the homes for key workers such as nurses and teachers who have been looking to get on the housing ladder while supporting their communities through the coronavirus pandemic.

The Government will permit each individual local authority to set a local connection test to determine who should be prioritised for the scheme.

First Homes follows on from the Prime Minister’s 95% mortgage guarantee concept, which is designed to assist first-time buyers secure a mortgage with only a 5% deposit.

We found this article about Homes with 30% discount for first-time buyers go on sale on Ealing Times. Kindly click the link to read the full story.

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