This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-politics-29387866
The article has changed 6 times. There is an RSS feed of changes available.
Version 4 | Version 5 |
---|---|
First-time buyers under 40 to get 20% off under Tory plan | |
(about 1 hour later) | |
First-time buyers in England under the age of 40 could buy a house at 20% below the market rate if the Conservatives are re-elected, David Cameron has pledged. | |
The Conservative leader said a future government led by him would build 100,000 new homes for such people. | |
They would be built on brownfield land already identified for development and exempt from some taxes, he said. | They would be built on brownfield land already identified for development and exempt from some taxes, he said. |
He was speaking as the party prepares for its annual conference this weekend. | He was speaking as the party prepares for its annual conference this weekend. |
Conservative politicians and activists will gather in Birmingham from Sunday for what is the final conference before next May's general election. | Conservative politicians and activists will gather in Birmingham from Sunday for what is the final conference before next May's general election. |
No flipping | |
Unveiling the pledge - an extension of the Help to Buy mortgage scheme - Mr Cameron said the Conservatives wanted more young people to "achieve the dream" of owning their own home. | Unveiling the pledge - an extension of the Help to Buy mortgage scheme - Mr Cameron said the Conservatives wanted more young people to "achieve the dream" of owning their own home. |
"I want young people who work hard, who do the right thing, to be able to buy a home of their own. So these starter homes will be sold at 20% less than the market value. | |
"They can't be bought by foreigners, they can't be bought by buy-to-let landlords, they can't be flipped round in a quick sale. They can only be bought by hard working people under the age of 40." | |
The starter homes plan would apply only to England, whereas Help to Buy is UK-wide. | The starter homes plan would apply only to England, whereas Help to Buy is UK-wide. |
That scheme entails the government offering a 20% equity loan to buyers of new-build properties. | That scheme entails the government offering a 20% equity loan to buyers of new-build properties. |
Mixed communities | |
Shadow housing minister Emma Reynolds said Mr Cameron had presided over the lowest level of house building in peacetime since the 1920s. | |
"After four and a half years he now tells us that he is going to deliver for first-time buyers but under his government a record one in four young people are living at home with their parents and young people across the country are priced out of home ownership. | |
"Labour will make the fundamental changes to the market which are urgently needed and will double the number of first-time buyers in the next 10 years." | |
Campbell Robb, of homelessness charity Shelter, welcomed the pledge but said it was "absolutely vital" that the homes built were "genuinely affordable for young couples and families on ordinary incomes". | Campbell Robb, of homelessness charity Shelter, welcomed the pledge but said it was "absolutely vital" that the homes built were "genuinely affordable for young couples and families on ordinary incomes". |
"There's a real concern that removing the requirement on developers to build affordable housing means this policy may not help those facing the greatest struggle to get a home of their own," he said. | "There's a real concern that removing the requirement on developers to build affordable housing means this policy may not help those facing the greatest struggle to get a home of their own," he said. |
Grainia Long, of the Chartered Institute of Housing, said she welcomed "the focus on supply and affordability" but still had "some serious concerns". | Grainia Long, of the Chartered Institute of Housing, said she welcomed "the focus on supply and affordability" but still had "some serious concerns". |
She said: "This smacks of building for one group of people at the expense of another. | She said: "This smacks of building for one group of people at the expense of another. |
"Social housing is critical if we are going to solve the housing crisis - there are always going to be people who can't afford to buy and we must provide decent, affordable homes for them too. | "Social housing is critical if we are going to solve the housing crisis - there are always going to be people who can't afford to buy and we must provide decent, affordable homes for them too. |
"Equally, we'd like to see more investment in shared ownership to help people on lower incomes. If all the focus is on home ownership, we are never going to build mixed communities." | "Equally, we'd like to see more investment in shared ownership to help people on lower incomes. If all the focus is on home ownership, we are never going to build mixed communities." |
'Raft of taxes' | 'Raft of taxes' |
Under the new proposals, the homes would be built on brownfield land which was no longer needed for industrial or commercial use. | Under the new proposals, the homes would be built on brownfield land which was no longer needed for industrial or commercial use. |
Savings from using such land would be passed on to the buyers, the Conservatives said. | Savings from using such land would be passed on to the buyers, the Conservatives said. |
Public sector land would also be used to deliver the pledge. | Public sector land would also be used to deliver the pledge. |
The homes would be exempt "from a raft of taxes", Mr Cameron said, such as the community infrastructure levy and a requirement to build social housing as part of any development. | The homes would be exempt "from a raft of taxes", Mr Cameron said, such as the community infrastructure levy and a requirement to build social housing as part of any development. |
Some building regulations - including the zero carbon homes standard - would also not apply to the new units. | |
The zero carbon homes standard, which applies from 2016, aims to improve energy efficiency. | |
It requires house builders to decrease all carbon emissions from energy arising from fixed heating and lighting, hot water and other fixed building services - such as ventilation - in new homes. |