First Time Buyers Package
Offering local homes for local people
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.
Now launched at Potter Wood, Verwood and coming soon to 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.
What is the First Homes criteria?
- 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/ Dorset 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 and Dorset Council to confirm eligibility criteria. Please speak to a Sales Adviser for more information.
Who can apply?
First Homes will be offered on a limited number of plots at our newest development in Fordingbridge: Whitsbury Green and Verwood: Potters Wood. 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 are available?
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.
Who are Essential Local Workers
Local connection criteria are:
- Residency in the area – 2 years or 3 years out of the last 5 years
- Close family continuous residency in the area – (parents, siblings, non-dependant children) – 5 years evidenced
- Paid employment in the Dorset Council area – 16 hours per week average for minimum period of 1 year (including zero hours contracts)
- Offer of permanent employment to social tenant in the Dorset Council area – 16 hours per week average for period no less than 1 year (including zero hours contracts) and where it is unreasonable to travel from current social housing property
- Location requirements – Any requirements detailed in a Section 106 Town and Country Planning Act 1990 and or a local lettings plan
A local connection is not established if residency is a consequence of being detained under the authority of an Act of Parliament or by being placed in the area to receive treatment or rehabilitation of any kind for any kind of dependency.
An Essential Local Worker is defined as someone employed in Dorset and in one of the following criteria:
- An employee of Dorset County Hospital NHS Foundation Trust;
- An employee within the Dorset health system, including Dorset CCG/ICS and Primary Care providers;
- Any other public sector employee providing frontline services in areas including health, education, and community safety such as teachers, police, firefighters, military personnel, social care and childcare workers;
- Private sector employees and the self-employed providing frontline services in care and includes teachers, health care, social care and childcare workers;
- Any other frontline occupational group experiencing recruitment or retention issues.
An Essential Local Worker would be deemed to be ‘employed’ in one of the following circumstances:
- In paid full or part-time permanent employment for 16 hours or more per week;
- Working in Dorset on a temporary or zero-hour employment contract that has been in place for at least 6-months and can demonstrate they have worked at least 16-hours per week since starting the employment contract;
- Working in Dorset on a fixed term contract for 16 hours a week or more;
- A permanent or fixed term job offer which they have accepted and meets the above criteria;
- If the employer is based outside of Dorset, the employment would have the actual place of work in Dorset. For those with a caseload or have a roving remit (e.g. district nurses, social workers, police officers etc), the applicant would need to obtain written confirmation from their employer that a substantial amount of their day-to-day duty fell within the District;
- For the self-employed, if the employment required the worker to work outside of Dorset from time to time, they would need to demonstrate that their permanent base of operations was within Dorset.
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What Our Customers Say...
A company that goes to great lengths to help its customers.
I just wanted to thank the site manager for all his help in getting our kitchen door replaced. He went to great lengths in contacting the supplier and sending photos (twice) to ensure that this replacement door that was a good match.
Mr Forster
Pennyfarthing Homes Homeowner
Excellent customer service!
The site manager came to see me yesterday. Made a note of the outstanding issues and told me he would be in touch today. True to his word he called me first thing and by 11 am he fixed two items and the final item is booked in for next Thursday. This is customer service!
Vicki
Pennyfarthing Homes Homeowner
A lovely home that could not be bettered… Family and friends agree.
Any difficulties have been satisfactory resolved, with a special mention for Jackie and the site manager who have been fantastic.
Mr & Mrs Gallacher
Pennyfarthing Homes Homeowner
We are really grateful and very impressed with the care and attention Pennyfarthing Homes has provided at every stage of the process of acquiring the lovely new home Pennyfarthing have built for us. We could not have asked for a nicer experience and you are all to be congratulated.
Mr Leavesley
Pennyfarthing Homes Homeowner
We like the overall combination of building style, quality and layout. The particular property we are in has needed to be done in a sympathetic manner to its surroundings. This we think has been achieved successfully.
The higher than normal ceiling height relative to most new builds has also been very noticeable.
The handover manual supplied with the home is more comprehensive than others we have experienced.
Mr & Mrs Burden
Pennyfarthing Homes Homeowner
Compared to the large national house builders, the specification of Pennyfarthing homes is lovely, my home is designed well, is spacious, has plenty of storage and the site as a whole is really attractive and well located. ‘Home’ is really important to me and I feel very fortunate to have found this one.
Potters Wood Resident
Pennyfarthing Homes Homeowner