Burnham’s Your First Home scheme ‘could boost Bellway’s house output by 10%’
Source: The Guardian ·
Help-to-buy initiative for England could slow market while first-time buyers wait for launch, builder admitsBusiness live – latest updatesThe new Your First Home programme for first-time buyers could increase the number of houses British builder Bellway produces each year by 10%, its boss has said.Faced with a chronic shortage of homes, the government has made housing one of its top priorities…
From the source
The new Your First Home programme for first-time buyers could increase the number of houses British builder Bellway produces each year by 10%, its boss has said. Faced with a chronic shortage of homes, the government has made housing one of its top priorities and Andy Burnham’s surprise announcement of the YFH scheme a fortnight ago sent housebuilders’ shares soaring by more than 10%. Jason Honeyman, who has led Bellway since 2017, welcomed the new programme, which will be more targeted than previous help-to-buy initiatives. It features household income caps to exclude those with big salaries, and price caps to ensure people can only buy modest houses. Full details, including the launch date, are expected be announced by John Healey in his first budget as chancellor on 28 October. YFH applies only to England and is for prospective first-time buyers hoping to buy a new-build flat or house. They will be offered a government-backed equity loan worth 20% of the purchase price and the…
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