The One Horton Heath development is the first to be announced in the south of England. It will deliver 201 homes through the First Homes Scheme, giving low-income workers a fantastic opportunity to get onto the property ladder.
Eastleigh Borough Council will assess applications for the scheme individually, with priority given to key workers, local people and veterans with the maximum purchase price being £250,000.
The scheme enables buyers to get onto the property ladder with a 30-50% discount on the home’s market value, which means they’ll need a lower deposit and a smaller mortgage.
How much would a home cost?A property with a market value of £340,000 could cost just £238,000 with the 30% discount applied. So, a 5% deposit would be £11,900 compared to £17,000 and a 10% deposit would be £23,800 rather than £34,000 - over £10,000 difference!
With the construction of the homes due to begin imminently, it’s expected they’ll be well underway in 2022 with the first homes being available from 2023 onwards.
To learn more, visit our First Homes page or alternatively, to keep updated with the development, visit One Horton Heath.