Flagship Government scheme getting first time buyers on the housing ladder poorly received in Hampshire (From Basingstoke Gazette)
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Flagship Government scheme getting first time buyers on the housing ladder poorly received in Hampshire
FEWER than 100 Hampshire families have bought a new home through a flagship Government scheme, new figures have revealed.
Only 89 mortgages have been handed out under the NewBuy initiative – allowing a deposit of just five per cent, on new-build properties – in 15 months.
Of those, the highest number – 33 – have been in Basingstoke and Deane.
Across England, 3,749 NewBuy mortgages have been signed – a fraction of the 100,000 promised by Prime Minister David Cameron when the scheme was launched.
Labour branded the initiative an embarrassing flop.
Jack Dromey, Labour’s housing spokesman, said: “It shows how out of touch David Cameron is that while he claims to have turned things around, home ownership remains out of reach for many young families.”
But the Government insisted that NewBuy is just one of several schemes that are getting the housing market “clearly moving again” and fulfilling the dream of home ownership. They include the new Help to Buy scheme, which, they claim, will eventually underwrite £130billion of home loans on new and existing properties.
Help to Buy is aimed at areas such as Hampshire, where sky-high prices have made home ownership an impossible dream for many.
Housing minister Mark Prisk said: “The housing market is clearly moving again, through the range of Government-backed schemes on offer.”
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