This morning I was delighted to welcome the Chancellor of the Exchequer, George Osborne MP, to the Denby Bank development site on the border of Denby and Marehay.
Mr Osborne came to visit a new-build site in Amber Valley to talk about the Help to Buy scheme, which is being launched by the Treasury to help hard-working people to get on, or move up, the housing ladder, and to help provide the necessary investment to boost our housing stock.
I’m pleased that the £5.4bn scheme is to be implemented by the Government. The Government will now provide up to 20% of the value of a new home in an equity loan towards a deposit, meaning that people will be able to get up to 95% mortgages. A mortgage guarantee scheme, due to be launched in 2014, will help those who want to buy an older home.
The scheme is already working, with one person to have already signed up on the site in Denby and another hopefully at the weekend.
This visit should help publicise this scheme which is there to help local people get on the housing ladder. I would recommend that any of my constituents who don’t think buying a house is a viable option look in to Help to Buy. You may find more information here.