Government opens up NHS sites for affordable housing

26-May-2005

Affordable housing designed for first time buyers is to be built on over 100 sites across the country, the government has announced.

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As ministers look to keep their pledge to build more affordable housing to enable aspiring homeowners get onto the property ladder, they are to free up former NHS land to build new homes.

Work has already begun on three sites across the country, at Newport Pagnell, Basingstoke and Maidstone, providing 400 new homes for aspiring first time buyers with a major opportunity to get a foothold in the market.

First time buyers are already set to benefit from the new joint ownership schemes unveiled earlier this week by Chancellor Gordon Brown, which will enable aspiring homeowners to pay as little as half the cost of a house, with the shortfall being made up by the government and building societies.

Click here to learn more about joint ownership

But some had worried that such a scheme would fail because of a lack of available housing, and as such the government has moved quickly to ensure that first time buyers should have properties to move into.

Click here for our first time buyers guide

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

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