Posts with tag: Help to Buy extension

Government Housing Plan Due

The Government has pledged to deliver an action plan this week, explaining how it will implement some of the vague policies it has already vowed, in a bid to solve the country’s housing crisis.

Government Housing Plan Due

Government Housing Plan Due

In an announcement at the weekend, the Department for Communities and Local Government said the plan was due “early” this week. However, the Chancellor’s Budget is scheduled for lunchtime today (Wednesday 8th July).

The Department for Communities and Local Government has outlined the Government’s main plans:

  • Help to Buy – to be extended to 2020.
  • Starter homes – 200,000 to be built in the next five years for first time buyers under 40-years-old at a 20% discount on open market values. 58,000 people have already signed up to this.
  • Right to Buy – to be expanded to include housing association tenants, at a discount of up to 70%.
  • Self-build – doubling the amount of custom built and self-built homes by 2020, by giving councils a new duty to help find land for those wanting to build their own home.
  • Public sector land – identify enough public sector land for 150,000 new homes over the next five years.
  • Brownfield sites – the Government hopes to unlock sites for 400,000 new homes on brownfield land. There is an existing commitment to ensure planning permission is in place on 90% of brownfield sites by 2020.
  • Further planning reform – a Department for Communities and Local Government statement says: “We will also take action on councils that have failed to produce a plan for the homes their community needs – ensuring plans are written for those areas.”1

1 https://www.estateagenttoday.co.uk/breaking-news/2015/7/government-housing-action-plan-coming-this-week