English Partnership has bought 250 homes off major developers to pilot its first time buyer initiative scheme
English Partnerships has announced that is buying 250 homes off four of the UK’s biggest developers to pilot its first time buyers initiative (FTBI) scheme.
The agency unveiled yesterday the first four developments where the initiative will be piloted.
Barratt Homes is providing 70 homes at its Axiom scheme in Feltham, St George 50 units at Beaufort Park, Hendon, Urban Splash 91 units at Chimney Pot Park in Salford and Crest Nicholson 36 dwellings at its Admiralty Quarter development in Portsmouth. All four schemes are currently being built.
EP aims to provide 15,000 new homes for affordable sale by 2010 through the programme, 40% of which will be delivered by taking homes currently being developed by private house builders and registered social landlords.
Around half of the new homes will be reserved for key workers, with the remainder allocated to local people priced out of the property market, or considered in priority need by the Regional Housing Board.