More local families able to buy their own home thanks to Help to Buy
- Mar 23, 2015
- Housing and development
Theresa May has hailed the success of the Help to Buy scheme after new figures showed that over 350 local families had received assistance in buying a new home since it was created. Help to Buy is the Government’s flagship housing scheme to help people access an affordable mortgage with a small deposit.
New figures show that since the scheme was created in 2013, 367 sales have taken place in the Royal Borough of Windsor & Maidenhead and Wokingham Borough under the Equity Loan, Mortgage Guarantee and New Buy parts of Help to Buy. Across the country, Help to Buy has now enabled nearly 90,000 families to buy their own home with over 80 per cent of sales going to first-time buyers.
The news comes at the same time as the Prime Minister has committed the next Conservative Government to delivering 200,000 new Starter Homes by 2020 – good quality homes that will be sold at 20 per cent below the market price and be reserved for first-time buyers only under the age of 40.
House building is now at its highest level since 2007, meaning more people are able to find a home of their own.
Commenting, Theresa said: “Thanks to Help to Buy, thousands of people across the country – and over 350 people locally – have been able to buy their own home and have greater confidence about their family’s financial security. Home ownership should be a realistic goal for everyone who works hard in life. Every additional family that is able to get on the housing ladder is one more family able to enjoy the security and peace of mind that comes from owning your own home.”