First Time Buyers

(asked on 3rd May 2023) - View Source

Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Levelling Up, Housing and Communities, what recent steps the Government has taken to help first-time buyers purchase a home.


Answered by
Rachel Maclean Portrait
Rachel Maclean
This question was answered on 15th May 2023

This Government is committed to helping to make the dream of homeownership a reality, and operates a range of relevant schemes which aim to make home ownership more affordable. Since spring 2010, over 829,000 households have been helped to purchase a home through Government-backed schemes including Help to Buy and Right to Buy. Current government schemes include First Homes, Mortgage Guarantee Scheme, Shared Ownership and Lifetime ISA. We have also expanded First-Time Buyers Relief on stamp duty, raising the threshold at which it becomes payable from £300,000 to £425,000 - this will apply until 31 March 2025.

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