Home ownership for the many


I have been urging my party to do more to help people become home owners. Most people want to own their own home. People relish the freedom it brings to decide how to decorate and improve their own home. It also brings financial stability once you  get over the first shock of a large mortgage. Over time the mortgage payments become more affordable as your pay goes up. By the time you retire you can live rent and mortgage free, which brings a sense of security.

The Conservative party has come up with three main ways of assisting. The first is the Help to Buy ISA. If someone saves up to ¬£12000 in one of these to provide a deposit for a first home, the state will contribute an additional ¬£3000. A¬† couple buying a home together are eligible for ¬£3000 each on ¬£12000 each of savings. That’s a big boost to the deposit.

The second is a Help to Buy mortgage, where someone without the required deposit is allowed to borrow extra to make up for the shortfall of the deposit to allow them to get on with home purchase.

The third is a scheme to make more new  affordable homes to buy available. These homes will come at a discount to the usual  market price. The developer will be able to sell them more cheaply, as the state will waive the development tax on that part of the development to enable the home to be offered more cheaply.

There is also a  fourth as  the Right to Buy will be extended to more social housing. Tenants with a good record of looking after the property and paying the rent will be able  to buy their home from the Housing Association at a discount.




Published and promoted by  Thomas Puddy for John Redwood, both of 30 Rose Street Wokingham RG40 1XU


  1. Gumpy Goat
    April 4, 2015

    All very well but building more is the only answer, that means upsetting the nimbys thus votes. Even looking at the green belt do we need that much?. I note in Scotland they seem better at building homes, see http://www.economist.com/news/britain/21647661-why-building-houses-easier-north-border-everymans-castle

  2. John Clark
    April 4, 2015

    Has the government thought about how to make it easier for new home buyers to purchase larger properties from elderly home owners who cannot afford to move into a smaller property .The example i have is that my wife and i who are in our seventies would love to move into a bungalow to help save on maintenance and climbing the stairs. We are in 3 bedroom victorian terrace which requires annual or bi-annual maintenance but to find a local property that is suitable.Is there any benefit to the government in helping both parties to purchase?
    May i take this opportunity in thanking you and your team for the daily emails,a pleasure to read.

  3. Narrow Shoulders
    April 4, 2015

    Fifth – Fewer people seeking homes

    Sixth – Less government subsidy of housing costs distorting the market for those who pay their own way.

    Seventh – Realistic interest rates so a return on cash is at least as good as a return on property

  4. PT
    April 4, 2015

    More blind, economic illiteracy and calls for subsidises purchases in respect of housing.

    One would suspect you want fewer houses built, for prices to go up, and the end of social housing?

  5. James Winfield
    April 7, 2015

    Sorry but the above is an absolute load of rubbish.

    Until there is a very large amount of houses built every year to make up for the backlog – 250,000 to 300,000 per year for a decade or two, then houses are going to remain unaffordable for many.

    The private sector cannot build that many – local authorities need to step in and build.

    This is urgent.

  6. John
    April 13, 2015

    We need to be building 400000+ year, presently 80% of my colleagues are living in bedsits/shared rooms(houses of multiple occupation), or with parents or in laws.

    Most for the foreseeable future with present rises will be able to unable afford to rent a flat, or even get a mortgage, and a pension is just a fantasy.

    Around this area people who work hard in jobs with low income, clean your office, stack the shelves, serve you in the town centre,and plenty of other unseen occupations are living on a knife edge. We already have people, sleeping rough in Wokingham Town Centre, their may be plenty of work in Wokingham but like London costs are high.

    If it were not for ties we would not be here, and as our relations join the next world, we will be moving away.

    Large multinationals are already doing this, wages may lower else where but the hosing costs are much, much lower for both the business and employee.

    Even without immigration their would still be an affordable housing crisis £200000 for a one bed pocket flat is not affordable.

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