Stephen Metcalfe MP has
welcomed new figures showing that the Conservatives’ Help to Buy scheme is
helping hardworking people in South Basildon and East Thurrock to buy their own
home.
Help to Buy is helping
families to get on the housing ladder in Basildon and Thurrock, with 283 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 house building is up 34 per cent and more new homes are now
being built than at any time since 2007.
Mr Metcalfe said:
“‘Labour’s Great Recession led to a collapse in house building 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 283 families in the local area have been
able to buy their own home.”
“Thanks to this
initiative, 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.”
