This month saw the launch of Help to Buy, a Government programme aimed at helping people to buy their first home. Many people, particularly young adults, struggle to raise the massive deposits required to get a mortgage unless they come from a privileged background.
I firmly believe that owning your own home is an achievement that people from all walks of life should be able to aspire to. Regardless of where you come from, if you work hard and can afford a mortgage payment then you should not be locked out of the property market.
The Government’s Help to Buy mortgage scheme will give access to people who can only afford a five per cent deposit. The average price of a house in Boston is £118,849, meaning that £6,000 would be required as a deposit. This is far more achievable than the £30,000 that some mortgages require.
October has been a particularly positive month for the UK. We have seen 0.8 per cent growth since July, crime is down 10 per cent across the country, 17 per cent in Lincolnshire, and unemployment continues to fall. Whilst I am under no doubt that there is more work to be done and many risks remain, thanks to the Conservatives in Government, our economy now has real momentum.