Scott Mann
Main Page: Scott Mann (Conservative - North Cornwall)
Brandon Lewis
The hon. Gentleman raises a good point. We are clear that as part of delivering 400,000 affordable homes by 2021, we want at least 135,000 to involve co-ownership and shared ownership. This is another fantastic model that improves the affordability of the home ownership model and enables more people to access it.
Scott Mann (North Cornwall) (Con)
Will my hon. Friend outline what a couple under the age of 40 living in Cornwall can expect to borrow under the new starter homes initiative that the Government have implemented for a family home worth, say, £200,000?
Brandon Lewis
My hon. Friend makes a good point about how starter homes can help people to get on to the housing ownership ladder. I would not presume to tell lenders what their position should be, but when we apply the starter home discount of at least 20% to that £200,000 home, which brings it down to £160,000, with a 5% deposit, we give access to home ownership to a whole range of people who have been trapped out of it since Labour’s great recession.