Written question asked by Chi Onwurah (Labour) on Monday, 22 January 2024, in the House of Commons. It was due for an answer on Wednesday, 24 January 2024. It was answered by Lee Rowley (Conservative) on Monday, 29 January 2024 on behalf of the Department for Levelling Up, Housing and Communities.

Affordable Housing: First Time Buyers

Question: To ask the Secretary of State for Levelling Up, Housing and Communities, whether his Department plans to review the (a) incentives available to and (b) constraints on the affordability of homes for first-time buyers.

Answer: We have introduced a number of interventions that aim to increase the opportunities available to those wishing and able to get on the property ladder for the first time. These include First Homes, the Mortgage Guarantee Scheme, Shared Ownership and Right to Buy. We have also reduced stamp duty and raised the thresholds for First-Time Buyers’ Relief. We also run the Lifetime ISA scheme to help young first-time buyers save for their first home.

Secondary information