Mark Lancaster MP

03 DEC 2014

Help to Buy Scheme: MK hits top 5 in the UK

New figures from the governments Help to Buy Scheme reveal that my constituency, Milton Keynes North is in the top five of the UK table.

In total 327 constituents in MK North have been able to access an affordable mortgage and get on the housing ladder.

These figures, once combined with MK South, who have supported 235 Help to Buy schemes, means a total of 562 families across MK have the security of owning their own property.

Across the UK, Help to Buy has supported over 71,000 families to buy their own home, with over 80 per cent of sales going to first-time buyers. A total of 94 per cent of sales have been in areas outside of London with the average price of a home bought under the scheme around £180,000, well below the national average.

Help to Buy is giving developers the confidence they need to build. House building now at its highest level since 2007 and house building orders now rising at their fastest rate since 2003 and is consequently supporting responsible lending.

Despite this, Labour want to cut back and restrict Help to Buy, which would make it harder for people to access an affordable mortgage and get on the housing ladder.

Thanks to Labour's Great Recession the prospect of buying a first home was nothing more than a pipe dream for many thousands of hardworking taxpayers in Britain.  That's why the Conservatives, as part of our long-term economic plan, launched Help to Buy which has so far, helped 327 families in MK North buy their own home, achieve their dream of homeownership and enjoy the security that comes with that.

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