Robin Walker, Worcester’s MP, has welcomed new figures showing that Help to Buy, the Conservative scheme to help people access an affordable mortgage with a small deposit, has helped 184 families to buy their own home in Worcester and 877 across the whole of Worcestershire.
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. This comes in the same week the Prime Minister 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.
This is all part of the Conservatives’ long-term economic plan that is getting Britain building again. House building is now at its highest level since 2007, meaning more people are able to get on in life and find a home of their own. Recently published research from Barclays showed that Construction was the fastest growing sector in Worcestershire’s economy with annualised growth of around 20% last year whilst figures from the LEP showed Worcestershire has been one of the three fastest growing County economies over the last six years.
Robin Walker commented:
‘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 5 per cent deposit. Since this was launched a total of 184 families have been able to get on the housing ladder in Worcester and hundreds more around the County.”
‘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. Our economic plan which is delivering growth for Worcestershire and low interest rates for the whole country is vital to continuing this progress Only the Conservatives have a plan to make sure everyone who works hard can have a home of their own.’