Starter Homes Scheme in London (2)

Meeting: 
MQT on 2015-10-21
Session date: 
October 21, 2015
Reference: 
2015/3162
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

How will you ensure that the discount offered to first-time buyers of 'starter homes' is equivalent in value to the affordable housing contribution that would otherwise by required of developers by local planning authorities? 

Answer

Answer for Starter Homes Scheme in London (2)

Answer for Starter Homes Scheme in London (2)

Answered By: 
The Mayor

The Housing Bill requires that the discount is at least 20% of the market value of the Starter Home. It is not intended to be directly equivalent to the value of affordable housing contributions.