FIRST time buyers will be able to buy a discounted starter home to help them get onto the property ladder, under a government scheme.

The starter homes initiative is aimed at getting 23 to 40-year-olds onto the property ladder by giving them a 20 per cent discount on properties.

Announcing the scheme Housing Minister Gavin Barwell said: “Thousands of new homes backed with financial support will help more first time buyers into home ownership. They will be built exclusively for first time buyers between 23 and 40 years old at a discount of at least 20 per cent below market value.”

Starter homes will be made available in partnership with local authorities. So far the first wave of 30 local authority partnerships has been announced. Authorities were selected according to their potential for early delivery of housing. The scheme will be supported by the government’s £1.2 billion Starter Homes Land Fund.

“The Government is committed to building Starter Homes to help young first time buyers get on the housing ladder,” said Mr Barwell. “This first wave of partnerships shows the strong local interest to build thousands of Starter Homes on hundreds of brownfield sites in the coming years. One in three councils has expressed an interest to work with us so far.”

The Starter Home Land Fund was launched in April 2016 to help invest in land for starter home developments. Investment has been made in 71 sites across the UK so far.