Commons Sense

House of Commons · Ministers' Questions

First-time Buyers

Monday 9 January 2023 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 3 Not answered 0

Key points

  • Mark Fletcher inquired about steps to help first-time buyers and the continuation of the Help to Buy scheme beyond March 2023.
  • The Minister confirmed there are no plans to extend or replace the Help to Buy scheme but all options are under review.
  • Meg Hillier questioned the government's plans to support councils in building affordable housing for first-time buyers.

Topics (select to filter)

Questions & Answers

Q1 Mark Fletcher
Housing
Context

The Help to Buy scheme is set to expire in March, prompting concern among potential homebuyers.

Question

What steps his Department is taking to help first-time buyers. The Help to Buy scheme has been an invaluable way of getting on the housing ladder for so many people. A constituent—a young nurse—is desperate to use the scheme but worried that it runs out in March. Will we be able to keep this invaluable scheme?

Answer from Lucy Frazer

There are currently no plans to further extend or replace Help to Buy, but all options to increase home ownership are kept under review. Since 2010, more than 819,000 households have been helped to purchase a home through Government-backed schemes. That includes how we cut stamp duty land tax and extended the mortgage guarantee for a further year to maintain the availability of mortgages to buyers with only a 5% deposit.

Partly answered

Not addressed: Specific commitment about extending Help to Buy beyond March was not provided

How: Under Review

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Q2 Mark Fletcher
Economy Housing
Context

The Help to Buy scheme is set to expire in March, prompting concern among potential homebuyers.

Question

Will the Minister give us an update and confirm if the Help to Buy scheme will continue beyond its current end date?

Answer from Lucy Frazer

We do not currently have plans to do so, but we will keep that under review. Since 2010, more than 819,000 households have been helped to purchase a home through Government-backed schemes. That includes how we cut stamp duty land tax and extended the mortgage guarantee for a further year to maintain the availability of mortgages to buyers with only a 5% deposit.

Partly answered

Not addressed: Specific commitment about extending Help to Buy beyond March was not provided

How: Under Review

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Q3 Meg Hillier Labour (Co-op) Hackney South and Shoreditch
Housing
Context

In Meg Hillier's constituency, more people rent privately than own their homes, with over 13,000 on a pruned-back social housing waiting list.

Question

First-time home ownership is a pipe dream for most people in my constituency. What will the Minister and her Department do to help councils build the right housing—affordable housing—in boroughs such as Hackney so that people can get their foot into any secure housing, whether rented or owned?

Answer from Lucy Frazer

We have an £11.5 billion fund to help build affordable homes. Since 1980, through the right to buy scheme, 2 million social housing tenants now own their own home, and we continue to develop schemes to secure people's home ownership.

Partly answered

Not addressed: Specific actions for Hackney were not provided

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