First Time Buyers

Ministry of Housing, Communities and Local Government written question – answered on 14th July 2021.

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Photo of Steven Baker Steven Baker Conservative, Wycombe

To ask the Secretary of State for Housing, Communities and Local Government, what assessment he has made on the financial impact of First Homes on property developers, including the receipts for sale of First Homes.

Photo of Christopher Pincher Christopher Pincher Minister of State (Housing, Communities and Local Government)

Our assumption is that First Homes will have minimal financial implications for property developers. This is because First Homes will only change the tenure mix that developer contributions are spent on, not the overall value of those contributions. In future, 25% of all affordable homes delivered by developers as part of their obligatory contributions will be First Homes.

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