Your First Home in Coningsby Awaits: Introducing First Homes at Kings Manor!

Are you a first-time buyer dreaming of owning a home in the heart of Coningsby? We have exciting news! Kings Manor is proud to announce the launch of our new homes available through the government's First Homes scheme.

This fantastic initiative is designed to make homeownership more accessible for local residents and armed services personnel.

What is the First Homes Scheme?

First Homes is a new scheme designed to help local first-time buyers and key workers onto the property ladder, by offering homes at a discount of 30% compared to the market price. The discounts will apply to the homes forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.

Am I Eligible?

To be eligible for a First Home at Kings Manor, you must meet the following criteria:

• First-Time Buyer: Each applicant (and any joint applicants) must be a first-time buyer.
• Income Cap: Your annual household income must not exceed £80,000.
• Mortgage Requirement: You must have a mortgage for at least 50% of the discounted purchase price. (If you don't have a mortgage advisor, we can share details of our trusted partners.)
• Price Cap: The discounted price of the property must not be more than £250,000.

In addition to the national criteria, our homes at Kings Manor have a specific local connection criteria. You must meet one of the following:

• You were born in East Lindsey and lived there for 2 years or more.
• You have permanently resided in East Lindsey for 2 years or more.
• You used to permanently live in East Lindsey for 2 years or more but were forced to move away due to a lack of affordable housing.
• You have been permanently employed in East Lindsey for 2 years or more.

Alternatively, you are eligible if you are an Armed Services Member. This includes current and recent members (within the last 5 years), as well as divorced or separated spouses/civil partners of a member, or the spouse/civil partner of a deceased member whose death was service-related.

How Does the Process Work?

The process is straightforward:

1. Check Your Eligibility: Gather evidence of your income, local connection (if applicable), or armed forces connection (if applicable).
2. Get a Mortgage Decision in Principle: Secure your mortgage in principle for more than 50% of the discounted price.
3. Submit Your Application: Our expert team at Chestnut Homes will assist you in submitting your application form and supporting evidence to the First Homes team at East Lindsey District Council.
4. Receive Authority to Proceed: Once the council has reviewed and approved your application, they will issue an "Authority to Proceed" to all parties, and we can move forward with your purchase!

We are currently taking expressions of interest and will begin marketing our First Homes in line with the eligibility criteria.

Get in touch with our sales team today to find out more and take the first step towards owning your dream first home at Kings Manor.