Rugby MP Mark Pawsey has welcomed new figures showing that Help to Buy has helped 266 families to buy their own home in the area.
Help to Buy has now enabled over 100,000 families to buy their own home – an average of 131 new homeowners created every day.
Over 80 per cent of those helped are first-time buyers and 94 per cent of sales have been outside of London. Help to Buy is being extended to allow thousands more families to get on the housing ladder.
This is in addition to other measures to help first-time buyers including building 200,000 new Starter Homes reserved exclusively for first-time buyers under 40 and the new Help to Buy ISA that will help people to save a deposit for their first home.
Mark said: “Conservatives believe that everyone who works hard should be able to have a home of their own. But when we came to office, too many people couldn’t afford the huge deposit they needed to get on the housing ladder.
“We weren’t prepared to let that continue which is why, as part of our long-term economic plan, we launched Help to Buy so people could get an affordable mortgage with only a five per cent deposit.”
He said since it was launched a total of 266 families have been able to get on the housing ladder in Rugby & Bulkington.
Mark added: “Helping more families to buy their own home is a key part of our One Nation policies so that working people in all parts of the country are able to enjoy security and opportunity.”
A mortgage supported by the Help to Buy: mortgage guarantee scheme works in exactly the same way as any other mortgage except that under the scheme the Government offers lenders the option to purchase a guarantee on mortgage loans.
As an Estate and Letting Agent in Rugby I think Help to Buy is a great set of tools to help people “get on or stay on” the property ladder. Shared Ownership is another scheme that is really helping the property market in Rugby, as well as offering affordable houses for those that deserve them. Hard working professionals, couples and families, as well as those that are retiring/downsizing and divorcees/separating can benefit from Government help in a variety of ways, and this is great news.
My only concern currently is that there is still a lack of supply of houses for sale and this is pushing up prices. Although the market is really taking off, we are short of stock to sell and this means that there is less choice for buyers.
If you instruct Cadman Homes to sell your property in July you will not only get 25% off your fees but also entered into a competition to win £5,000! Don’t forget to quote CHJ2
Adam McHenry – Director & Head of Sales
Thanks to the Rugby Advertiser