The Government risks effectively giving away billions of
pounds through the controversial starter homes policy unless vital changes are
made to the legislation, a charity has warned. Under the proposed starter homes
programme, originally announced in 2014, 200,000 first-time buyers would be
able to purchase new houses or flats at a 20pc discount to the market rate. Figures
compiled exclusively for The Telegraph by Shelter found that buyers of the
homes could make as much as £58,000 by selling them at full price once the
five-year holding period has expired. On average, those in London who buy a
typical starter home at the discounted price and then sell it at full market
value five years later would pocket an extra £105,000. Read more on the Daily
Telegraph website.
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