First Homes definition

First Homes means a Dwelling which may be disposed of as a freehold or (in the case of flats only) as a leasehold property to a First Time Buyer at the Discount First Homes Market Price and which on its first Disposal does not exceed the Price Cap;
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First Homes means an Affordable Housing Unit which may be disposed of as a
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First Homes. Means discounted homes for first time buyers which comply with the
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Examples of First Homes in a sentence

  • First Homes are the government’s preferred discounted market tenure and should account for at least 25% of all affordable housing units delivered by developers through planning obligations.

  • First Homes are a specific kind of discounted market sale housing and should be considered to meet the definition of ‘affordable housing’ for planning purposes.

  • The transitional arrangements set out in the Written Material Statement and Planning Practice Guidance confirm that the First Homes requirement will not apply to sites with full or outline planning permissions already in place or determined (or where a right to appeal against non-determination has arisen) before 28 December 2021 or applications for full or outline planning permission where there has been significant pre-application engagement which are determined before 28 March 2022.

  • If you meet all the requirements it will issue a First Homes ‘Authority to Proceed’ and Eligibility Certificate to you, the builder, mortgage advisor and your conveyancer.

  • This shows you are eligible and entitled to be a First Homes owner.

  • You will have to make a further legal declaration that you are eligible and understand the terms of the First Homes scheme and that you can only resell the home in the future to another eligible First Homes buyer.

  • A minimum of 25% of all affordable housing units secured through developer contributions should be First Homes.

  • Are Rising Housing Costs Barring Young Adults from Buying Their First Homes?, June2018, http://www.freddiemac.com/research/pdf/201806-Insight-05.pdf.

  • If it looks like you could be eligible, the builder will assist you to complete a First Homes application to the local authority.

  • Visit the house builder selling First Homes to see what is available to purchase.


More Definitions of First Homes

First Homes means each and every Affordable Housing Unit comprising Intermediate Housing as may be included within the Affordable Housing Scheme approved by the Council and designated for sale by the Owner to a person or persons meeting the First Homes Eligibility Criteria at a discount from Market Value. Such discount shall be sufficient to enable each of the relevant Affordable Housing Units to meet the criteria of Affordable Housing and in any event shall not be less than 30% of the Market Value as shall be determined at the point of sale of each such First Homes unit in perpetuity;
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First Homes means a Residential Unit which may be Disposed of as a freehold or (in the case of flats only) as a leasehold property to a First Time Buyer at the Discount Market Price and which on its first Disposal does not exceed the Price Cap the internal specification of which shall not by reasons of being of First Homes be inferior to the internal specification of equivalent Open Market Units constructed to the Development Standard; “First Home Owner” means the person or persons having the freehold or long leasehold/leasehold interest (as applicable) in a First Home other than: 1) the Owner; or 2) another developer or other entity to which the freehold interest or long leasehold/leasehold interest in a First Home or Long Lease/ leasehold interest in the land on which a First Home is to be provided has been transferred before that First Home is made available and is disposed of for occupation as a First Home; or 3) the freehold a tenant or sub-tenant of a permitted letting under paragraph 10 (use of the First Homes); “First Homes Units” means the Residential Unit to be occupied as a First Home in accordance with the terms of this Deed and reference to a “First Homes Unit” shall be to any one of them;
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Related to First Homes

  • Abbeyfield Home means an establishment run by the Abbeyfield Society including all bodies corporate or unincorporated which are affiliated to that society;

  • Capitol hill complex means the grounds and buildings within the area bounded by 300 North Street, Columbus Street, 500 North Street, and East Capitol Boulevard in Salt Lake City.

  • Residential real estate means any real property located in this state, upon which is constructed or intended to be constructed a dwelling;

  • Campus means any place where the college conducts or sponsors educational, public service, or research activities.

  • Management Company means the firm overseeing the operation and management of the Participating Property; and shall mean the Grantee in any event wherein the Management Company is required to perform any obligations under this Agreement.

  • Family home or "family residence" means the location or portion of a location where the applicant and his or her family reside, and may include basements and attics. It does not include other structures that are separate from the home but are considered part of the overall premises, such as adjacent apartments, unattached basements in multi-unit buildings, unattached garages, and other unattached buildings.

  • the Caxton Foundation means the charitable trust of that name established on 28th March 2011 out of funds provided by the Secretary of State for the benefit of certain persons suffering from hepatitis C and other persons eligible for payment in accordance with its provisions;

  • Asset management means a systematic process of operating and maintaining the state system of

  • Operating Company has the meaning set forth in the preamble.