New figures show that the Government’s Help to Buy scheme has helped 38 people buy their own home in Brighton Kemptown and Peacehaven.
Help to Buy was introduced by the Conservatives to help working people saving for a deposit buy 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 after it was launched. 80 per cent of those helped are first-time buyers and 95 per cent of completions have been outside of London.
The Chancellor of the Exchequer has now said that the stronger economy and financial system means the Government expects banks to start to exit the Help to Buy Mortgage scheme, which was introduced in times of financial distress and will come to an end next year in any case.
The Help to Buy shared equity scheme will continue 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.
Simon said; “The Government is committed to helping working people achieve the aspiration of buying their own home and the Help to Buy scheme has now helped 38 families to buy their own home in Brighton Kemptown and Peacehaven.
“Supporting people who want to work hard, save and buy their own home is a key part of the Conservative Government’s long term plan to provide economic security for working people at every stage of their life, across the UK.”