Swindon Link Weekly Article - 9th February

Owning a home provides millions of people across the UK with a sense of independence and security, and is still one of the biggest aspirations that people hold. I still remember the pride that I felt when I picked up the keys to my home in Taw Hill. I believe that everybody should have the chance to own a home and feel the same why that I did.

Since 2010, 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. And what an impact it’s had already. With the introduction of the Help to Buy Scheme and major reforms to stamp duty, barriers have been broken down and home ownership has become an option for many more people.

The Help to Buy Scheme has resulted in an increase in the supply of low-cost mortgages to help those who can afford a monthly mortgage, but don’t have thousands of pounds to spare for a deposit. In Swindon, the Help to Buy Scheme has already helped over 450 people to buy their own home.

Reforms to Stamp Duty (the tax that applies to everybody when purchasing a home) have seen the scrapping of the old slab system which distorted the market with big jumps in taxes when house values creeped into a new bracket.  The new reform has meant a tax cut for 98% of people who buy a home, saving a staggering £4,500 when purchasing an average family home. I have already spoken to a number of local people who have saved a staggering amount of money as a result of this reform.

Here in Swindon, these policies present a real boost for home owners, as well as housing and construction industries. One of the big advantages that our town can boast about is our competitive house prices. We are the first affordable place along the M4 coming from London, and the price of a nice new house is not highly inflated as a result of close proximity to the capital.

This advantage has been noticed too. National and global businesses are spotting Swindon as a great place to do business and basing themselves here so that their employees can take advantage of our good housing and close links to both the M4 and the M5.

What with our booming housing market, increasing employment, new business opportunities, updates to our railway services and millions of pounds worth of investment being injected into regeneration; Swindon is become an increasingly desirable place to live.

As local residents we should be extremely proud of the development and prosperity our town has seen in the last few years, and we should be determined to maintain this upward journey.