Help to Buy: Housebuilders’ Profits

Lord Campbell-Savours Excerpts

Wednesday 27th February 2019 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, most of the suppliers of homes under the Help to Buy scheme are small and medium-sized enterprises, although I accept that the larger players are delivering the volume. I agree with the noble Lord about the need for a new homes ombudsman and he will know that, when legislative time allows, we will introduce that. In the meantime, with the Home Builders Federation we are looking at the possibility of a voluntary homes ombudsman, to make sure we have the qualities he and I are keen on and that they are enforced.

[Lord Campbell-Savours (Lab)]

My Lords, I understand that, as of 2021, the scheme will be restricted to only first-time buyers. In those conditions, what will stop first-time buyers being subjected to inflated house prices?