Lammy promises first-time buyer homes

4th September 2015

David Lammy, one of Labour’s London mayoral candidates, has revealed his plans to address the housing crisis in the capital, including the building of 30,000 homes on public land and creating a new type of tenure in the UK housing market. The homes, which he said would be available for as little as £150,000, could only ever be sold to first-time buyers and would be sold with conditions on the leasehold intended to stop the price rising in line with normal London house price inflation. The buyers would be able to sell for up to 10% above cost price, but only after having lived in the home for a long time.

The Guardian