Government announces launch of £150m 'First Homes' funding package

The government has today announced that it is launching a flagship £150m scheme for home builders.

First Homes, a government scheme that aims to create new homes for first-time buyers, is today launching a £150m package for builders across the country.

Housebuilders are being invited to apply to work with the government on the scheme, with the aim of delivering 1,500 homes by March 2023.

Robert Jenrick, housing secretary, commented: “It is great to see the First Homes scheme gaining momentum and I am happy to invite house builders to deliver this flagship house building programme across the country.

“Lenders have already seen the first mortgage applications come in as more homes come onto the market. It will support local communities and give local people a greater chance of getting on the housing ladder and having a place which they can call their own.

“Just as importantly, homebuilders of all shapes and sizes will now be able to benefit from this scheme while helping first-time buyers and key workers onto the property ladder.”

Peter Freeman, chair of Homes England, said: “The Early Delivery Programme is a great opportunity for housebuilders, housing associations and the wider development sector to get to grips with First Homes. We look forward to working with partners to help aspiring homeowners realise their ambitions and own their own home.

“Councils will also be able to prioritise the homes for keyworkers such as nurses and teachers who have been looking to get on the housing ladder while supporting their community throughout the pandemic.”

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