New homes in Northampton to benefit first time buyers

07-Aug-2006

The NewBuild HomeBuy scheme ran by Northampton Borough Council will develop affordable homes aimed specifically at first time buyers over the next two years.

As part of the scheme first time buyers who cannot afford to buy properties outright will be able to enter into shared ownership deals, renting a percentage of the property from a housing association.

Councillor John Caswell, from Northampton Borough Council, said: "We know how important good quality affordable housing is to people's quality of life.

"It also acts as an incentive to attract key workers to the borough, many of whom provide key public services that everybody in Northampton depends on."

The new scheme follows research from last week that showed key workers are struggling to take their first steps on the property ladders as house prices continue to rise.

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