Local MP, Justin Tomlinson, has welcomed new figures showing that Help to Buy has helped 685 families to buy their own home in Swindon.
Help to Buy was introduced by the Conservatives to help working people doing the right thing and saving for a deposit to achieve their aspiration of buying their own home. Across the country, Help to Buy has now enabled nearly 120,000 families to buy a new home, less than three years since it was launched. 80% of those helped are first-time buyers – realising the dream of owning their own home – and 95%t of completions have been outside of London.
The Help to Buy shared equity scheme continues to go from strength to strength and the new Help to Buy ISA the Government is launching in December will provide generous support to those saving for their first home by providing a government boost on their deposit. From 1st December, Help to Buy ISAs will support people who are working hard to save up for a deposit for their first home. A 10% deposit on the average first home costs £15,000, so if you put in up to £12,000, the Government will put in up to £3,000 more. Six major lenders have already signed up to offer these ISAs.
In May, Justin welcomed the Prime Minister to Swindon to meet local residents who have benefitted from the Help to Buy scheme.
Justin Tomlinson MP said: "The Conservatives are committed to helping working people achieve the aspiration of buying their own home and our Help to Buy scheme has now helped 685 families to buy their own home in Swindon. The Help to Buy shared equity scheme goes from strength to strength and our new Help to Buy ISA we’re launching in December will provide generous support to those saving for their first home by providing a government boost on their deposit. Supporting people who want to work hard, save and buy their own home is a key part of the Conservatives’ long term plan to provide economic security for working people at every stage of their life, across the UK."
