“The ‘Changes to the current planning system’ consultation closed at midnight last night. As the consultation itself notes, 87% of people would prefer to own a home given a choice. However, barriers to home ownership such as high deposits and high prices mean that far too many people, and keyworkers especially, are still denied this opportunity.
“The lower prices of First Homes will make home ownership more accessible but, significantly, the scheme will still require a deposit of £14,000 on average as a minimum – we know that for many key workers and families on lower incomes this is a virtually impossible ask.
“Affordable rent-to-buy buy schemes like Rentplus offer the prospect of home ownership without the worry of saving for a deposit. We have received legal advice recently which reconfirmed that Rentplus falls within both the term “affordable rented” and “rent to buy” of the National Planning Policy Framework definition.
“First Homes can undoubtedly play a role in helping people to become homeowners, but there must still be other routes to home ownership for those who First Homes will miss off, those for whom raising a sizeable enough deposit is still not achievable.”
Rentplus CEO Steve Collins
You can read the full report here.