Helping local families to own their own home
- Sep 19, 2014
- Housing and development
Theresa May has welcomed new figures showing that the Government’s Help to Buy scheme is helping families in the Maidenhead area to achieve their dream of owning their own home.
In total 281 people have been able to access an affordable mortgage and get on the housing ladder in the Royal Borough of Windsor & Maidenhead and Wokingham Borough since the scheme began in 2013.
Overall, over 50,000 people have been able to buy their own home thanks to Help to Buy, with 82 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 bought about £187,000, 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 has increased by 34 per cent while house building orders are at their highest since 2003 with workers being taken on at the fastest rate for 17 years.
Commenting, Theresa said: “It is important that more people can get an affordable mortgage and get on the housing ladder. The Help to Buy scheme is helping families across the country, including nearly 300 people in the Royal Borough and Wokingham Borough who have been able to buy their own home. This is a vital part of the Government’s long-term economic plan to ensure that more people can enjoy security and a better quality of life.”