§ Mr. Murphyasked the Secretary of State for the Environment if he will list the Government assistance now available to first-time home purchasers; if any additional help is planned; and if he will make a statement.
§ Sir George YoungThe Government have given many tenants of public authorities the opportunity to become home owners for the first time. Over 700,000 dwellings in Great Britain have been sold by public authorities since the Government took office. The Housing and Building Control Act extends the right to buy and improves the terms offered.
The Government's low-cost home ownership initiatives have encouraged the building of new lower-cost housing for sale on land which was previously owned by public authorities, the renovation of existing houses for sale under improvement for sale schemes and Homesteading schemes, the alternative of shared ownership for those who cannot yet afford to buy outright, and mortgage indemnities to encourage lending at the lower end of the housing market.
In addition to mortgage tax relief, first-time buyers can obtain Government grants and loans towards the purchase of their first home if they have saved under the homeloan scheme. The qualifying house price limits for this scheme are revised as necessary so that about two-thirds of first-time purchasers could meet this requirement of the scheme.