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 . ’
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 450,000 or £no more than £250,000 in London .