First time buyer news: New affordable homes scheme for Wiltshire

12-May-2006

A proposal to include car parks as land on which to build 400 affordable homes in Wiltshire looks unlikely to be overturned.

Some five car parks in Westbury, Warminster, Trowbridge and Melksham, as well as play areas and open spaces, have been included in the Private Finance Initiative (PFI) bid, reports Newsquest.

Last month West Wiltshire District Council approved the PFI bid but later, four of the councillors asked for the decision to be called in.

Aspiring first time buyers considering affordable housing options should work with a good mortgage broker.

A report from the deputy monitoring officer is expected to go before the council's scrutiny committee next week, which concludes that no incorrect procedures were followed.

The report goes on to advise that the committee recommend that the cabinet leaves the decision as it is or reconsiders their offer.

First time buyers can make buying a new home affordable through a 'gifted deposit' scheme whereby a deposit is not required just the cost of professional and arrangement fees of £5000

When the list has been approved, the planning process will be followed before any of the open spaces are developed for first-time buyers.

Mortgage lenders have risen to the challenge of creating a growing number of options for first time buyers.

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