Introducing our
First Homes.
Pennyfarthing is offering a range of new homes at our developments at a substantial 30% discount against their market value through the Local Council’s First Homes. Coming soon to Potters Wood Phase 3 and Oakwood Grove, Alderholt.
As a family run business, Pennyfarthing believe everyone should have the opportunity to own their own home. We understand that taking that step onto the property ladder can be a big one, especially as a first-time buyer or key worker.
Under the Government’s First Homes, Pennyfarthing is offering a range of homes at a discount of 30% below their market value*. This initiative is aimed to help local first-time buyers and key workers own their own home in the area they live or work.
What’s more, these discounts will apply to the home forever, meaning that generations of new buyers and the local community will continue to benefit every time the property is sold.
Pennyfarthing Homes is delighted to be the first developer to provide First Homes in the New Forest and Dorset Areas.
Coming soon to Potters Wood Phase 3 and Oakwood Grove, Alderholt.
What is the aim of first homes?
Getting first-time buyers on the housing ladder and helping people to own their own home in the place where they live or work. This also includes ‘key workers’ including teachers, nurses, the police and firefighters. Serving members of the armed forces and veterans will also take priority.
Do I qualify?
To qualify you must be local, a first-time buyer and/or a key worker. If buying as a couple, neither partner can have previously owned a home.
Is it a genuine discount?
Yes, this offer is in partnership with Local Councils and His Majesty’s Government.
Since the Help to Buy loan scheme ended on the 31st October 2022, the First Homes initiative is a great alternative route to owning your first home in the area you live.
Where can I get more information?
More information is available on the GOV.UK website, First Homes.
How long will the process take?
We’ll ensure the process is as simple and quick as possible, but application processing time may vary. For more information please contact our Sales Advisers.
- Purchasers must have a household income not exceeding £80,000.*
- After the discount (30%*) has been applied, the first sale of the property must be at a price no higher than £250,000.
- The property should be the buyer’s only home and a purchaser will need to use a mortgage or home purchase plan for at least 50% of the purchase price.
- If you decide to sell the property, the home will be independently valued, and the First Homes discount will be re-applied to this new value for the next owner.
- Property must be your first home.*
- Local connections and/or key worker status as determined by New Forest District Council. Please speak to a Sales Adviser to check your eligibility.
*First Homes criteria indicative and subject to change. We are working in partnership with New Forest District Council to confirm eligibility criteria. Please speak to a Sales Adviser for more information.
First Homes will be offered on a limited number of plots at our newest development in Fordingbridge: Whitsbury Green. First Homes does not have an application deadline and is open to eligible applicants whenever the plots become available. You will then apply to have your eligibility confirmed when you are ready to reserve a plot under the initiative.
Which plots at Whitsbury Green are available under this initiative?
We have set aside a limited number of two bedroom homes, called The Setwood for First Homes buyers. This desirable design features an open-plan Living/Dining/Kitchen area, large double bedrooms and the excellent finish you would expect from a Pennyfarthing home.
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