As I have mentioned we are looking to move out this year so the announcement of this new Starter Homes Initiative has piqued my interest.
At the moment the bare basics seem to be that if you are a first time buyer and are under 40 years old you will qualify to be eligible for purchasing a house with a 20% discount off the market price. I am not sure if it is a limited number or how long it will last. But it does sound interesting and could certainly be helpful for us, though frankly given the area that I live and work in I am not sure if 20% off the house price is even enough, unless the government are still then also giving a 15-20% equity loan on top, perhaps it may be feasible?
There isn’t an awful lot of information to go on at the moment, but it is worth exploring all the potential avenues so I signed up here: http://www.new-homes.co.uk/starter-homes/ to receive more information. I’ll pass on any news when I know more.