First time home buyers are set to benefit from an innovative new scheme that can offer eligible purchasers up to a 24% discount on their home.
Falkirk Council has teamed up with Persimmon Homes at their Parkhall Meadow development in Vellore Road, Maddiston to offer two and three bedroom properties at discounted rates as part of Council’s Affordable Housing Policy.
The Council has negotiated the discount with the developers as part of their developer’s contribution to the site meaning a two bedroom house will cost £95,000 and a three bedroom £120,000 for those eligible.
Priority will be given to a first time buyer; those on a Housing Association or Falkirk Council waiting list; have an annual income of between £17671-£33,907; Council or Housing Association tenants; those in the Armed Forces.
Councillor Gordon Hughes, spokesperson for Housing said: “This is a different approach for us to take but it will help us provide affordable housing for those who need it.
“The scheme will ensure that buyers will pay less of a deposit because of the contribution made by the developers.
“It is possible we will look at similar schemes in the future.”
The title deeds for the property contain a clause where the purchaser will need to sell their property applying the same discount.
The scheme is part of Falkirk Council’s Strategic Housing Investment Programme agreed in September 2017.
More information on the scheme is available from the Persimmon website.