First time buyers in Barnsley to be offered 30 per cent discount on new homes

The Government’s “first home” scheme will offer first time buyers with a combined annual household income under £80,000 new homes at a discount of at least 30 per cent against market value.

The properties offered under the first homes scheme are set to be priced under £250,000, and councils can apply other eligibility criteria for the scheme in their area.

A report to Barnsley Council’s cabinet states that eligible homes will be sold at a minimum 30 per cent discount, and at least 25 per cent of affordable homes on new hosuing developments should be offered to first time buyers.

Three pilot schemes have been successful so far in the borough – Keepmoat confirmed that nine out of 11 applicants would not have been able to proceed with purchasing a new home if the first homes discount was not applied.

“The First Homes pilot scheme demonstrates that this type of affordable home ownership is popular within two areas of Barnsley and isallowing people to access home ownership who would have previously been unable to do so,” states an officer report.

Residents applying for the scheme must have lived in Barnsley for three of the last five years, and be employed in the borough.

Other criteria also applies.

The scheme is set to be approved at the next meeting of BMBC’s cabinet on Wednesday, November 2.