"Councils will also be able to prioritise the homes for key workers such as nurses and teachers who have been looking to get on the housing ladder while supporting their community throughout the pandemic."
That same percentage will then be passed on with the sale of the property to future first-time buyers, meaning homes will always be sold below market value.
The scheme will support local people who struggle to afford market prices in their area, but want to stay in the communities where they live and work.
The first First Homes properties went on the market today as part of the first phase of an early delivery project in the Bolsover district, East Midlands.
Further sites are set to launch across the country in the coming weeks. A further 1,500 will enter the market from the autumn, with the government pledging to deliver at least 10,000 homes a year in the years ahead.
High-street lenders Halifax and Nationwide Building Society, along with local building societies and community lenders, announced that they will be offering high loan-to-value mortgages against First Homes to support the roll-out of the scheme.
Housing Secretary Robert Jenrick said: "Enabling more people to buy their own homes is at the heart of the mission of this government, and First Homes will offer a realistic and affordable route into home ownership for even more people who want to own their own home.
"Thanks to First Homes, we will offer more homes to local people and families, providing a route for first-time buyers to stay in their local areas rather than being forced out due to rising prices.
"First Homes will also support our fantastic key workers who are looking to get their first foot on the housing ladder – from front-line doctors and nurses to delivery drivers and supermarket staff – by giving many of them the chance to buy a home at a 30% discount.
"These homes will be locked in for perpetuity to first-time buyers and key workers from their local area – making them an asset to both their owners and the wider local community."
Robin Fieth, chief executive of the Building Societies Association, commented: "Building societies have always been dedicated to bringing home ownership within reach for as many people as possible, which is why we are working with the sector to help bring forward mortgages for First Homes as soon as possible.
"Building societies, both large and small, are pleased to be among the first lenders to offer mortgages in support of this new product.
"Councils will also be able to prioritise the homes for key workers such as nurses and teachers who have been looking to get on the housing ladder while supporting their community throughout the pandemic.
"Each individual local authority can set a local connection test to determine who should be prioritised for the scheme based on the needs’ of their communities."
Richard Fearon, CEO of Leeds Building Society, added: “We’re pleased to be supporting the First Homes scheme, which aims to help people realise their dreams of owning their own home.
“Supporting schemes like this is a way to reaffirm our support for first time buyers and other borrowers who are not well served by the wider market. Leeds Building Society helps these customers through a range of mortgages, from traditional high LTV (loan to value) lending to affordable housing initiatives such as shared ownership.
“We’ve experienced some of our busiest ever months for home purchase in 2020 and so far in 2021. Our purpose as a building society is to help people save and have the home they want, so I’m particularly proud that during 2020 we helped 8,000 first time buyers and continued to offer 95% LTV shared ownership mortgages throughout the pandemic.”
