Section: Home Ownership

Council to work with housing partner to refurb empty homes for first time buyers

Posted 20.02.20
Manchester City Council: Further reading

Manchester City Council will provide £2 million in recyclable grant funding to Mosscare St Vincent's (MSV Housing Group) that could see up to 90 empty homes brought back into use for sale and provide an alternative route on to the property ladder.

MSV Housing Group will acquire the properties, undertake the refurbishments and market them for sale to first time buyers or to residents on or below the City's average household income.

In line with the Council's target to become a zero carbon city by 2038, the partnership will also review the option to fully retrofit the homes to be as close to zero carbon as possible.

However, this will significantly increase the cost of refurbishment and this option would see around 30 properties made available through the grant funding.

The £2 million grant is from the Council's Affordable Homes Fund, which holds Section 106 developer contributions negotiated through the planning process.


Government to cut the cost of new homes by a third

Posted 10.02.20
GOV.UK: Further reading

Housing Secretary Robert Jenrick has announced plans to cut costs of a proportion of new homes by a third for first-time buyers.

Under the proposed 'First Homes Scheme', aspiring homeowners will be able to take their first step on to the housing ladder, aided by cuts in the cost of a new house by up to 30%.

The scheme will see a discount locked into a property to ensure more first-time buyers benefit in years to come.

The scheme will lower deposit and mortgage requirements for local first-time buyers in England. The discount will apply to a proportion of new homes, with the government consulting on how this will be delivered.

Veterans will be prioritised as part of Armed Forces Covenant and councils will also be able to use the scheme for front-line workers in their area - such as police, nurses, prison officers and teachers.


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Reporting on February 2020

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