One of the biggest aspirations for people across this country is to be able to own their own home. I still remember the pride when I picked up the keys to my home in Taw Hill. Indeed owning a home provides millions of people in this country with a sense of security and independence. That’s why I am delighted that this Government has made it one of its main aims to give both current and future generations the chance to experience the benefits of owning their own home.
Firstly, the Help to Buy scheme continues to present the chance for people to purchase their own home regardless of background, by increasing the supply of low-deposit mortgages, particularly first-time buyers. In Swindon this scheme has already helped more than 450 families and I am very proud of that. I have met many of these families and they are so grateful for the opportunity previously denied to them.
Secondly, last week a huge reform of Stamp Duty, the tax which applies to everybody when purchasing a home, was announced. The Chancellor explained that he would be changing this badly-designed tax by scrapping the slab system which distorted the market with big jumps in taxes when house values climbed into a new band. This announcement means a tax cut for 98% of people who buy a home, saving £4,500 when purchasing an average family home. This is a real boost for home owners, housing and construction industries right here in Swindon.
Very aptly (though by luck!), following this announcement I was delighted to open the new offices of Castles Residential Sales and Lettings on Commercial Road. Their impressive new offices certainly outshone my knowledge of how to be an Estate Agent based on ‘Homes under the Hammer’ or ‘Location, Location, Location’! I wish them the very best in their new home. With this opportunity to kick-start the housing market and allow more people to get onto the housing ladder, I have no doubt they will be busy!
Whilst not quite a new home, I was very proud to join the fantastic team at The Olive Tree Café at the Manor Garden Centre to celebrate the opening of their new extension. This brilliant local charity have proved so successful at providing real opportunities for people with mental health issues to get back into work that they needed to extend to cater for demand. I know this first-hand as I am regular customer, with their ham, egg and chips an absolute must! The team of staff, volunteers and supporters can rightly be proud of everything they have achieved – they are a real credit to Swindon.
