Stewart Jackson MP has welcomed new figures showing that the Conservatives’ Help to Buy scheme is helping families to achieve their dream of buying their own home.
In total 192 people have been able to access an affordable mortgage and get on the housing ladder in Peterborough.
Across the UK, Help to Buy has helped over 71,000 families buy their own home – with over 80 per cent of sales going to first-time buyers. 94 per cent of sales have been in areas outside of London with the average price of a home bought under the scheme around £180,000, well below the national average.
Help to Buy is giving developers the confidence they need to build, with housebuilding now at its highest level since 2007 and house building orders now rising at their fastest rate since 2003, and is supporting responsible lending.
Despite this Labour want to cut back and restrict Help to Buy – which would make it harder for people to access an affordable mortgage and get on the housing ladder.
Stewart Jackson MP said:
‘Thanks to Labour’s Great Recession the prospect of buying a first home was nothing more than a pipe dream for many thousands of hardworking taxpayers in Britain.
‘That’s why the Conservatives, as part of our long-term economic plan, launched Help to Buy which has so far helped 192 families in Peterborough buy their own home and is playing a major part in increasing the number of new homes being built. This means 192 more families able to achieve their dream of homeownership and enjoy the security and peace of mind that comes with that.
‘Help to Buy is a key part of our long-term economic plan that is helping people to buy their own home and, together with cutting income tax and freezing fuel duty, is backing those who work hard and get on find the financial security they deserve.
I was delighted to today visit such a scheme in Peterborough at Midland Road with L&H Homes and their Director Ian Jackson, where their regeneration project Lydney Grange is progressing well.’