First time buyers offered 30% discount on new homes built in Fenton
By Kerry Ashdown - Local Democracy Reporter
3rd Jul 2023 | Local News
First time buyers could land a discount of at least 30% on a home at a new development in Fenton.
Four properties at the site off City Road are set to be sold as "First Homes" as part of a new Government-funded national scheme which aims to get more people on the property ladder.
Stoke-on-Trent City Council's planning committee approved the move at its meeting on Thursday (June 29). The homes on Jesse Austin Avenue are part of a new estate that also includes Rialto Court, an apartment complex for over 55s.
A report to the committee said: "The properties have been constructed by Stoke-on-Trent City Council on the former Workshop for the Blind site at City Road. The properties are located on an estate comprising older persons housing apartments, alongside 28 family homes with private gardens and parking areas.
"Twenty-four of these homes and the older persons apartments are rented and managed via the council's Housing Revenue Account (HRA). The remaining four are the subject of this matter.
"The properties are fully constructed and ready to be occupied. First Homes are a specific kind of discounted market sale housing and officers strongly support the delivery of First Homes on this site."
To be eligible for First Homes purchasers must be first time buyers with a combined annual household income of no more than £80,000. They must also have a mortgage to fund at least 50% of the discounted purchase price and the property must be sold for no more than £250,000 on its first sale.
Councils are also able to set local eligibility criteria for First Homes in their area. Aspiring buyers hoping to secure a First Home at Jesse Austin Avenue will have to have been a Stoke-on-Trent resident for a continuous period of at least 18 months, or have a close family association with a parent or child who is resident within the city, to be eligible for the scheme.
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