Conservative Parliamentary Candidate, Graham Stuart, supports the measures the Conservatives’ are promising to make it easier for people to buy their first home.
Under the Conservatives, the majority of first-time buyers will not pay Stamp Duty when they purchase their own home. In their manifesto, the Party committed to raising the threshold so that homes bought that cost less than £425,000 will be exempt from this tax. This will save first time buyers up to £11,250 and help up to 5000 more young people make that important first step onto the housing ladder every year.
In addition, the Government is launching a new and improved Help to Buy Scheme, which will offer first time buyers a 20% equity loan from the Government towards a new build property. This initiative will enable thousands of people to buy their first home with just a 5% deposit, therefore reducing a barrier to them owning their own property.
Since 2010, the Government has supported 892,000 families to buy their own home. This was made possible thanks to Government backed initiatives including ‘Right to Buy’ and the Help to Buy Mortgage Guarantee Scheme. Graham is pleased that the Government recognises that owning a home makes people more financially secure.
He saw first-hand during his visit to Longfields Development in Beverley, where an array of high-quality new homes have been built, the difference they make to people’s lives. Graham is confident that these additional measures will help more people onto the housing ladder across Beverley and Holderness.
In contrast, the last Labour government oversaw the lowest level of housebuilding since the 1920s. In 2008/9, only 75,000 new homes were started which gave people less choice and increased prices for people in Beverley and Holderness and across the UK.
Graham Stuart, Conservative Parliamentary Candidate for Beverley and Holderness, said, “We all want our children to get on the housing ladder and own their own homes. That’s why I’m pleased that the Government is taking the necessary steps to make this easier for people in Beverley and Holderness by cutting costs and reducing the size of the deposit, which I know is a barrier to so many people. If re-elected, I will ensure as many people as possible in Beverley and Holderness benefit from these measures and realise their ambition of owning their home.”
