article: More than 50,000 Britons have signed up to a scheme offering discount starter homes to those desperate to get on the housing ladder. The news comes as David Cameron today reiterates his pledge to offer the cut-price properties to 200,000 young first-time buyers. The project, launched last month, is part of a dramatic extension of the Help to Buy scheme – and doubles the number of new starter homes in England from 100,000 to 200,000. Help to buy: The extension to the scheme has been well-received with 50,000 people registering interest in the scheme since it launched last month . The properties would be at prices 20 per cent cheaper than their market value and reserved purely for first-time buyers under the age of 40. Mr Cameron will say today: ‘Home ownership goes to the heart of our political beliefs. It’s simple: we believe having a home of their own gives people and families independence; it helps people stand on their own two feet; and it’s one of the ultimate symbols of a country where if you work hard, you can get on.’ Figures published yesterday reveal 52,000 people have already registered an interest since the scheme was launched last month. The 20 per cent discount is possible because the new properties will be exempted from taxes and reduced construction costs thanks to the release of cheaper, brownfield commercial land to build on. Affordable homes: 50,000 Britons have signed up to a scheme offering discount starter homes to those desperate to get on the housing ladder . As well as helping struggling young people wanting to buy a home, Tory strategists believe it will appeal to parents and grandparents worried about their families’ prospects of ever getting onto the property ladder. Each starter home will cost no more than £250,000 outside London and £450,000 in the capital. First-time buyers will also be able to combine the 20 per cent discount with a Help to Buy mortgage – which offers homeseekers a 20 per cent Government-backed equity loan. The Help to Buy equity loan scheme was introduced in 2013 to offer buyers a 20 per cent Government loan to buy new properties, worth up to 95 per cent loan to value. It was due to expire in 2016 but has been extended until 2020. Under Labour, housebuilding fell to levels not seen since the 1920s. The number of first time buyers also collapsed, falling 60 per cent from 501,500 in 1997 to just 185,000 in 2009. Although the total number of new houses being built in the 12 months to June last year rose to 137,780 – a 22 per cent increase on the previous year – the Government says far more must be done. But shadow housing minister Emma Reynolds criticised the Government’s record on home ownership, adding: ‘Warm words from David Cameron about home ownership will ring hollow for those young people and families who have been priced out of home ownership over the past five years.’
highlights: Project doubles number of new starter homes in England to 200,000 .
  Properties will be 20% cheaper than their market value for under-40s .
  Starter homes can cost no more than £250,000 or £450,000 in London .
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