Home Ownership: First-Time Buyers

Baroness Primarolo Excerpts

Thursday 23rd April 2026 Lords Chamber

[Baroness Taylor of Stevenage (Lab)]

The noble Lord will not be surprised to know that I always agree with my right honourable friend the Prime Minister. Of course I also welcome the HCLG Select Committee’s work, which has particularly looked at the types of inequalities that the noble Lord highlights. Three in 10 people get help from family or parents and, increasingly, access is being determined by family wealth, not earnings. We are working hard on this. From speaking to lenders, we know that many first-time buyers are not aware of all the innovative mortgage products and recent mortgage reforms that may help them get on the housing ladder. We speak regularly to lenders on how to raise awareness of different options among first-time buyers, including hosting two major industry round tables last year, both of which were covered in the mainstream media. Of course, there is more work to do, and the Government are keen for all stakeholders who work with potential first-time buyers, including estate agents and brokers, to play their part in helping them understand their options.

[Baroness Primarolo (Lab)]

My Lords, I will follow up the important points that the noble Lord made. Home ownership makes up 62% of housing tenure, and getting first-time buyers to their first house is crucial, but social housing also plays a really important part in helping people to get into a decent, secure and affordable home. It is known that local authority social housing aids social mobility. Can the Minister therefore explain further the contribution of all tenures, particularly social housing, in getting people access to the home they want at a price they can afford in an area where they want to live?

[Baroness Taylor of Stevenage (Lab)]

Social and affordable housing sit side by side. We have confirmed a new 10-year £39 billion social and affordable homes programme to kick-start social and affordable housebuilding at scale across the country. Our ambition is to deliver around 300,000 homes over the programme’s lifetime. At least 60% of the homes delivered will be for social rent, with the remainder available for other tenures, including shared ownership, affordable rent and intermediate rent in London. This programme is active now. The councils and housing associations are bidding into that programme, as are other bidders, and I hope we will be able to deliver at pace very quickly.