An Englishman’s home is his castle. And today, record numbers of people are living that adage thanks to Help to Buy; a scheme that is reviving house-building after decades of inaction.
Statistics released today show more than 27,000 homes have been bought through Help to Buy. This is great news. For too long, hardworking people in this country have been priced out of the housing market: for the simple reason that demand was outstripping supply and because prospective buyers who could afford a mortgage were not able to stump up the huge deposits banks were demanding.
Politicians on all sides recognise this problem; but it is this Conservative-led government which is taking action. With the average house price in UK now at £252,000, we recognise that a £50k deposit for someone on an average salary of £26,500 is a tall order. An injection of capital is needed at both ends, to let people buy homes and boost the housing supply.
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