New proposals from David Cameron would allow developers to opt out of paying s106 and CIL contributions in exchange for delivering homes at a 20% discount for people aged under 40.
The savings would amount to at least £45,000 per dwelling.
Cameron said the “particular kind of security that comes with owning your own home” was something that “too many people have been denied”.
The proposals were announced in a speech on the Conservatives’ plan for housing in which the PM pledged that if his party won the general election it would deliver 200,000 new homes for first-time buyers by 2020.
This amount is double the 100,000 discounted homes the government has already promised to those under 40.
The PM said house builders including Barratt and Taylor Wimpey had already signed up to the scheme.
Cameron also reiterated the Conservatives’ support for Help to Buy with a pledge to extend the equity loan aspect of the scheme until 2020.
He also committed the Tories to protecting the green belt, saying: “Put simply, the green belt is protected with us.”
