A young Rugby couple’s delight at becoming first time homeowners thanks to the Help to Buy scheme has been highlighted in the House of Commons.
After struggling to get on the housing ladder, Jack Gayton and Hannah Fountaine of Technology Drive took full advantage of the scheme – and their case has now been mentioned at Prime Minister’s Questions by Rugby MP Mark Pawsey.
Mr Pawsey said: “Across the borough of Rugby, 510 new affordable homes have been delivered since 2010 and 108 people, including Jack and Hannah, have been able to buy their own home thanks to Help to Buy, giving them the opportunity to move into a good quality, affordable home and plan for the future.”
Jack added: “Hannah and I were long term tenants in the rental sector and we both thought that it would be some years before we’d be able to actually own our own home in Rugby, so we were very keen to let Mark know we are now the proud owners of our own home.”
The Help to Buy scheme is designed to help people buy houses with smaller deposits than had previously been the case. Equity loans are open to both first-time buyers and home movers on new-build homes in England with a purchase price up to £600,000, while mortgage guarantees enable people to buy a home with a deposit of five per cent of the purchase price.