HBF has submitted its detailed response to the Government’s consultation on the regulations to inform the Starter Homes requirement, a key component in ministers’ ambitions to deliver 200,000 new homes to first-time buyers, available at 80% of open market value.
The Housing and Planning Act which became law last week provided the statutory framework for a new Starter Homes requirement on most new housing sites but much of the detail is to be determined through regulations. This Technical Consultation will inform those regulations and covers important features of the scheme design, including the percentage requirement on sites, the period over which purchasers realise the full value of their home and the type of sites that benefit from an exemption from the requirement.
The HBF response focuses on the features of the scheme that will help to:
Provide builders with as much certainty as possible at land acquisition stage
Make Starter Homes understandable for first-time buyers
Ensure mortgages are available for buyers
Prevent market distortion
Reduce the risk of protracted and difficult viability negotiations on every site
The full HBF response and suggestions to Government is available here.
The Department for Communities and Local Government (DCLG) has today announced an extension of the deadline for consultation submissions. The new deadline is 27th May.
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