Stewart Jackson MP has welcomed new figures showing that the Conservatives’ Help to Buy scheme is helping hardworking people to buy their own home.
Help to Buy is helping families to get on the housing ladder in Peterborough with 310 people able to access an affordable mortgage and buy their own home since January 2014.
Across the country over 27,000 people have been able to buy their own home thanks to Help to Buy, with 85 per cent of those helped first-time buyers. 94 per cent of sales have been outside of London and the scheme is supporting responsible lending, with the average price of a house brought around £190,000, well below the national average.
Help to Buy is also giving builders the confidence to build, with the Equity Loan part of the scheme directly supporting demand for new-build homes. Since the scheme was launched, private sector housebuilding is up 34 per cent and more new homes are now being built than at any time since 2007.
‘Labour’s Great Recession led to a collapse in housebuilding and meant hardworking people found it nearly impossible to buy their own home.
‘That’s why the Conservatives, as part of our long-term economic plan, launched Help to Buy so that more people could get an affordable mortgage and get on the housing ladder. Since Help to Buy was launched 310 families in Peterborough have been able to buy their own home.
‘Thanks to the Conservatives, even more families have been able to achieve their dream of owning their own home and can now enjoy greater financial security allowing them to plan for their future.’