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MPs welcome Help to Buy scheme figures
Two MPs have welcomed new figures that 100 homes have been bought using the Help to Buy scheme this year.
Conservative MPs for Enfield North Nick de Bois and Enfield Southgate David Burrowes backed the scheme’s impact in the borough.
The scheme means that households can access a 75 per cent of mortgage without requiring a huge deposit, but they must still pay a five per cent deposit and have it backed with 20 per cent from the Government.
The scheme has been aimed at giving people who have not been able to save or cannor afford a deposit the chance to get onto the housing ladder.
Mr de Bois said: "Lots of people in Enfield who are renting their homes would love to be able to buy, but have until now been prevented from doing so by the huge deposits required by the banks.
“Help to Buy means hard-working people, who can afford monthly repayments but don't have a large deposit or help from rich parents, can get on the housing ladder thanks to the Conservatives."
Enfield Southgate MP David Burrowes added: "As part of our long-term economic plan, Help to Buy is giving builders the confidence to build, with the equity loan part of the scheme directly supporting demand for new-build homes.
“Since the scheme was launched, private sector housebuilding is up 34 per cent and more new homes are now being built than at any time since 2007, which is great news for jobs, the economy and for first-time buyers."
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