A housing development under the new First Homes scheme has been unveiled by Crest Nicholson in Ashby.

The scheme, which was launched by former Prime Minister Boris Johnson, enables first time buyers and key workers to purchase new-build properties in England at a 30 per cent discount to the market value - with just a five per cent deposit, and is the Government's answer to the challenges faced by many young people getting on the property ladder who want to stay in their home town or area, or keyworkers live near to their job.

Thenegotiator.co.uk reports that to be eligible for the scheme, the property must be a new-build and applicants must be first-time buyers with a household income of no more than £80,000.

Applicants must also be able to access a mortgage of at least 50 per cent of the market price of the property.

Local councils may set additional eligibility requirements.

Crest Nicholson is working with the scheme at its Potter's Grange development off Smisby Road, which features a collection of three, four and five-bedroom homes.

Prices at Potter's Grange, using the First Homes scheme, start from £193,900 for a three-bedroom home.

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Vanessa MacNee, Sales and Marketing Director at Crest Nicholson Midlands, commented: "We're proud to be providing support for first-time buyers at Potter's Grange through the government's First Homes scheme.

"With the end of the Government-backed Help to Buy scheme, the First Homes scheme is a great alternative which supports first-time buyers.

"It now sits alongside Deposit Unlock, which offers mortgages with just a five per cent deposit, and Home Reach, which provides part-buy, part-rent options, as schemes available at the development.

"This is a great opportunity to join a well-established, bustling, and diverse community of homeowners, including young professionals and families.

"The scheme is proving very popular, with many completions already taking place."