Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to provide support to first-time buyers by the end of 2023.

Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)

The Government remains committed to making the aspiration of homeownership a reality for as many households as possible.

We operate a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households, including first-time buyers, increase the availability of new housing, and stimulate economic growth. These include the Mortgage Guarantee Scheme, which is open until the end of 2023 as well as First Homes and Shared Ownership through the Affordable Homes Programme. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.

We are also investing £11.5 billion to build more of the affordable, quality homes this country needs.

Over 829,000 households have been helped to purchase a home since Spring 2010 through Government-backed schemes, with the annual number of first-time buyers at a 20-year high in 2021.

We have also cut Stamp Duty Land Tax, doubling the threshold at which SDLT becomes due from £125,000 to £250,000 and expanding First-Time Buyers Relief raising the threshold at which stamp duty becomes payable from £300,000 to £425,000. The maximum property value on which First Time Buyers Relief can be claimed has also been lifted from £500,000 to £625,000. These will apply until 31 March 2025 to support the property market.

Question to the Department for Levelling Up, Housing & Communities:

To ask His Majesty's Government how many first-time buyers they have offered financial support to in each year since 2008, broken down by local authority area.

Answered by Baroness Scott of Bybrook - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)

The Government has delivered a range of interventions in recent years to promote home ownership to first time buyers. Data is not available for all schemes

The Government also stipulates that developers support first time buyers through s106 agreements in the planning system (for example providing Shared Ownership and First Homes)

The latest statistics published on first time buyers offered financial support are as follows (attached) (to end September 2022):

Mortgage Guarantee Scheme: See Table 6 at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1135081/Q3_2022_MGS_Quarterly_Statstical_Release_vFinal_230208.pdf

Help to Buy Equity Loan:
See Table 1a at: https://www.gov.uk/government/statistics/help-to-buy-equity-loan-scheme-data-to-30-september-2022

Help to Buy ISA:
See quarterly statistics at: Help to Buy: ISA Scheme Quarterly Statistics: December 2015 to 30 September 2022 - GOV.UK (www.gov.uk)

Help to Buy: LISA:
See table 2 at: Commentary for Annual savings statistics: June 2022 - GOV.UK (www.gov.uk)

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what steps he is taking to support first time buyers onto the housing ladder.

Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport

The Government is committed to helping first time buyers to get on the housing ladder. Over 819,000 households have been helped to purchase a home since Spring 2010 through Government backed schemes including First Homes, Shared Ownership and the Lifetime ISA.

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what steps his Department is taking to help support first-time buyers to purchase their first home.

Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport

Getting people on the housing ladder realising their dream of owning a home has been a long held conservative value. I am proud that since Spring 2010, over 800,000 households have been helped to purchase a home through Government-backed schemes, including Right to Buy and shared ownership.

And the annual number of first-time buyers was at a 20-year high in 2021.