Resham Kotecha has welcomed new figures showing that the Conservatives’ Help to Buy scheme is helping families to achieve their dream of owning their own home.
In total over 100 people have been able to access an affordable mortgage and get on the housing ladder in Lambeth and Southwark, with people helped in each of these areas
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.
‘Labour’s record on housing was truly appalling. Their Great Recession led to a collapse in housebuilding and it became almost impossible for people to achieve their dream of owning 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 this scheme was launched, a total of over 100 families in Lambeth and Southwark have been able to buy their own home.
‘Thanks to Help to Buy, thousands of families and first-time buyers across the country are now able to achieve their dream of owning their own home where they can enjoy security and a better quality of life’.