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Home Ownership: Government Support

Volume 603: debated on Monday 14 December 2015

5. What steps his Department is taking to (a) support shared ownership and (b) help people to buy a home. (902667)

The autumn statement confirmed £8 billion for over 400,000 affordable homes, including 135,000 new shared ownership homes and £2.3 billion towards delivering 200,000 starter homes. Our Help to Buy ISA scheme, launched on 1 December, means that we have a Help to Buy equity loan scheme as well, which is being extended through to 2020-21. That means that just a 40% equity is being provided by the Government for people in London, and that will be launched in 2016.

I was very pleased recently to attend the opening of Prospect House in Cheadle Hulme—a brand new development of 11 apartments available for shared ownership, and I welcome further measures introduced by the Government to expand this scheme. What steps is the Minister taking to encourage local authorities to build more shared ownership housing and ensure that these developments utilise brownfield sites?

I am happy to respond. We will relax or remove local authority restrictions to shared ownership to make it easier for people to find the right home for their families. Brownfield land has an important role in meeting housing need, and we are committed to ensuring that 90% of suitable brownfield sites have planning permission for housing by 2020.