There Really is No Place Like Home
Posted by Laura Sandys, MP for South Thanet, at 17:13, Mon 28 October 2013:
When Dorothy clicked the heels of her ruby slippers together and said 'there's no place like home', she wasn't talking about practical things like mortgages and deposits. But that hankering after home rings truer than ever for those desperate to get on the housing ladder.
Many residents I meet in Thanet want a home to call their own; a place to put down roots and raise their family. The rent they pay could very easily be mortgage payments but the deposits the banks have been asking for are just too high.
The Government has been listening and has taken real action by introducing Help to Buy, which does exactly what is says on the tin. The new mortgage guarantee scheme means you may only need a deposit of as little as 5%- a far cry from the unaffordable 20% average banks have been demanding of first time buyers. The Government then provides a guarantee to help you get the rest.
High street banks have just started accepting these mortgage applications and lenders responsible for over 50% of the UK mortgage market are now signed up. This ensures that those who want help to buy definitely get it.
We're helping people in Thanet to make owning a home a reality in a very tangible way so they can move in and settle down for good. And once the walls are painted and the boxes unpacked, they'll realise that they were right: there really is no place like home.
You can find out more about Help to Buy by visiting: www.helptobuy.org.uk, and I am very keen to hear about your own experiences of this scheme so please don’t hesitate to email me at laura.sandys.mp@parliament.uk
- Laura's View- Isle of Thanet Gazette. 18th October 2013.
If you are subscribed to HearFromYourMP in this constituency,
log in to post a reply.
Otherwise, if you live in the UK,
sign up in order to
HearFromYourMP.