7 May 2016 – by Alexander Peace
Eighteen months after the plan for starter homes was announced at the Conservative Party conference, the details surrounding them are still being hammered out.
Estates Gazette, with the help of Savills and a recent British Property Federation and Herbert Smith Freehills round table, has identified the key unanswered questions.
The basic principles of the starter homes plan are in the Housing and Planning Bill, which just passed through the House of Lords. Next, the secretary of state will set out the rules and regulations.
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A second consultation on how it will work closes on 18 May. Assuming a month to process responses, along with Westminster’s summer hiatus, there is likely to be no clarity until the autumn, leaving just three and a half years to meet the government’s target of 200,000 homes by 2020.
The government wants a fifth of new homes to be offered as starter homes to first-time buyers not eligible for affordable housing.
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