Rachel praises Help to Buy for helping Redditch families onto the housing ladder

Rachel Maclean, the MP for Redditch County, has welcomed new figures which show the Conservative Government’s Help to Buy scheme has enabled 170 families in Redditch achieve the dream of owning their own home.

Launched in April 2013, the Help to Buy Equity Loan scheme has seen 160,000 new homes purchased with support from the scheme in England.

First time buyers make up four out of five Help to Buy purchasers and it is clear that with the support of equity loans from the government to buy a new build home, more people are making their first steps on the housing ladder than would otherwise be possible.

And, because the Help to Buy scheme is targeted solely on new build delivery, this increased demand has generated huge benefits for communities in infrastructure investment and affordable housing delivery, while directly leading to an increase in investment by house builders in the land and labour needed to deliver more new homes. As a result, between the scheme’s launch in April 2013 and April 2017, housing supply increased by 74 per cent – the fastest increase in output ever recorded.

Rachel said: “Owning their home is a dream for families here in Redditch and across the country, and the Help to Buy scheme is making this dream a reality for my constituents.

“It is absolutely vital the Government continues to help people in Redditch get on the housing ladder, and with 170 families in Redditch able to purchase their own home, the Help to Buy scheme is clearing doing what it was designed to do, to help families realise their ambitions of home ownership.”