City MP welcomes government’s new moves to help first-time buyers

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Government plans for housing will pave the way for young people to fulfil the dream of owning their own home, according to city MP Iain Stewart.

The government recently announced that thousands of young people will be given the opportunity to rent new homes at below-market rates with the chance to buy them at the end of their tenancy.

Housing associations and social landlords will be given £400million worth of cheap loans to build new homes.

Mr Stewart, MP for Milton Keynes South said, “When I meet young people across Milton Keynes one of their main concerns is whether they will ever be able to afford to buy their own home. Often it’s the deposit not the repayments they can’t afford.

“These policies are aimed at those young individuals. These moves will undoubtedly benefit our young people in MK. We already have one of the highest rates of “help to buy” take ups in the whole country which has given hundreds the opportunity to fulfil the dream of their own home.”

He added: “These won’t be bought by foreigners nor will they be bought by buy-to-let landlords. These homes will be for hardworking people who want to get on in life.

“It’s so important to give individuals the opportunity to succeed and achieve their dreams.”

In addition, the Prime Minister announced that if there is to be a majority Conservative government after the next election, 100,000 homes would be built and made available to first-time buyers in England under the age of 40 at 20% below the market rate.