Keepmoat Homes has appointed Ward Hadaway to provide legal advice on two of the first key developments as part of the government’s flagship First Homes scheme.
Specialist housing and planning lawyers from the UK top 100 firm are providing advice on the legal agreements for the scheme, which is being piloted on Keepmoat sites in the North East and Midlands.
The First Homes scheme will help local first-time buyers, many of whom will be key workers – like NHS staff – and veterans, onto the property ladder by offering homes at a discount of at least 30% on a new build property against the local market value.
Two of Keepmoat Homes’ developments were selected by Homes England to trial the scheme: Elder Gardens in Newton Aycliffe, County Durham and Meadow View in Shirebrook, Midlands, which both comprise a mix of two, three and four bed homes ideal for first time buyers.
Sophie Bohill, a Partner in the firm’s Built Environment Team, said: “We are delighted to be working with Keepmoat Homes in their partnership with Homes England and local authorities to deliver this brand new tenure of social housing to the property market.
“Delivery of the scheme is part of the Government’s wider pledge to build new affordable and attractive homes and support local people who wish to stay in the communities where they live and work.
“The ambition of the scheme is to help first time buyers access the property ladder. First Homes are the Government’s preferred approach to discounted market tenure and are expected to represent at least 25% of all new affordable housing delivered by developers through planning obligations. Following Keepmoat’s commitment to the pilot scheme, we’re looking forward to supporting our client as they market and sell these homes to first time buyers.”
Tim Wray, Group Development Director at Keepmoat Homes, said: “We are delighted to be working with our partners, Ward Hadaway, to launch the First Homes scheme which is specifically designed to support first time buyers and keyworkers and help them take their first steps on the property ladder. Keepmoat Homes is one of the UK’s leading home-builders for first time buyers so it is great to be part of this initiative which will help even more people realise their dream of owning their own home. This is a true example of how working in partnership helps to support local people and communities.”
The discount can be passed on with the sale of the property to future first-time buyers, ensuring homes will always be sold below market value which will benefit local communities, key workers and families.