People across the North West are now a step closer to owning their own home thanks to new Government measures.
This week the Government has announced the details of a reinvigorated Right to Buy scheme, which means that tenants could benefit from a discount of up to £75,000 on their council house.
The Government is also helping first-time buyers get their foot on the housing ladder by launching an additional scheme, which guarantees mortgages of up to 95 per cent for new build houses in England. The ‘NewBuy Guarantee’ means that instead of a typical buyer requiring a £40,000 deposit for £200,000 property, they will now only need £10,000.
Commenting, Cllr Ben Berry, said:
‘I think that everyone in Cumbria and the North West should have the chance to own their own home, whether it is their first or the home they have shared for years.
‘Unlike Labour, this Government is committed to supporting those who aspire to own their own homes.
‘In the North West the current discount for social tenants is £26000. This action by the Government will raise this to up to £75,000, empowering social tenants to make their council house their home.’