Starter Homes Initiative
Young first time buyers can benefit from the Starter Homes initiative, saving 20% on the market value of their new house. Get all the information you need here.
If you’re a first time buyer hoping to get on the property ladder, finding an affordable home can be challenging. Redrow® is pleased to be part of a new Government-run initiative that offers young first-time buyers the opportunity to purchase a new house for less. This ‘Starter Homes discount’ is 20% off the market value of the house. Starter Homes will be available at a range of sites across the country, offering first time buyers in many locations the chance to enter the property market.
In a bid to meet the housing requirements of young first time buyers, the Government has pledged to build 200,000 Starter Homes by 2020. The Starter Homes initiative is aimed exclusively at young (under the age of 40) first time buyers. The initiative states that the discounted price should not exceed £250,000 outside of London and £450,000 in London.
These homes will be well designed and meet all the demands of modern living, allowing more young people to fulfil their dream of having their own, permanent home. Far from compromising on quality, builders of qualifying Starter Homes are offered a discount on payments to local authorities, meaning that each house can be sold at a lower price. Every Redrow® Starter Home embraces the same dedication to quality, detail, and convenience that you’d expect to find across all our developments.
There are no catches or hidden payments. Please note, however, that Starter Homes must stay available at 20 % below market value for the first five years, meaning that those wanting to resell during this period will have to pass the discount on to the next first time buyer.
To be eligible for a Starter Home you must:
- Not have bought a home in the past
- Want to occupy the home
- Be below the age of 40
All houses built under the Starter Homes initiative will be well designed and of a high quality, ensuring that the need of modern homeowners are met.
Be kept informed
To be kept informed of the Starter Homes Redrow will be offering, please register your interest below:
I would like to benefit from news updates from Redrow about any events or special offers.*