A new package of measures aimed at helping people on lower incomes to get onto the housing ladder - including changes to the Shared Ownership scheme meaning people will be able to buy their home in 1% chunks, rather than being forced to save up 10% at a time - have been strongly welcomed by the Member of Parliament for Eastleigh, Mims Davies.
The new measures will also make it easier for people to take out a mortgage through the Help to Buy scheme, and build upon the cut to Stamp Duty for first-time buyers brought forward by Eastleigh’s MP in 2018, which has helped thousands of people to buy their first home.
Commenting, Eastleigh MP Mims Davies:
“I really welcome these new measures. All of us know how challenging it is for people to get a step on the housing ladder, which is why I proposed changes to Stamp Duty for first-time buyers within the 2018 Budget. Thousands of people have since been able to buy their own home as a result of this change, however, it is clear more needs to be done.
“These new steps both to the Help to Buy Scheme, as well as to the Shared Ownership Scheme will help to fulfil the new Prime Minister’s priority to level up the whole country, closing the opportunity gap and helping millions of young people into home ownership, including across the Eastleigh area.”