Tory Chairman hails 'Help to Buy' a success at MKM

Published:  22 October, 2013

Conservative Party chairman Grant Shapps MP has said the Help to Buy scheme is benefitting all parts of the UK housebuilding industry as the government prepares to roll out the second phase.

Conservative Party chairman Grant Shapps MP has said the Help to Buy scheme is benefitting all parts of the UK housebuilding industry as the government prepares to roll out the second phase.
 
Addressing business leaders in Alnwick with Prospective MP for Berwick-upon-Tweed, Anne-Marie Trevelyan, Mr Shapps said the landmark initiative would encourage housebuilders to ramp up construction further and that would be felt throughout the industry's supply chain.
 
Tens of thousands of people have taken advantage of Help to Buy, which was launched in April and gives buyers access to interest-free government loans of 20 per cent of the price of a new property.
 
Now, as phase two gets underway, those moving up the property ladder or looking to buy older properties up to a value of £600,000 will also become eligible for a loan.
 
Speaking at the Alnwick branch of MKM Building Supplies – the UK's largest independent builders' merchant – Mr Shapps said phase two would help bolster activity across the entire housing market and further incentivise builders to develop new residential sites.
 
"Phase one of Help to Buy has been a real success," he said. "It has helped a lot of people on to the property ladder who would have struggled without some kind of assistance. The effects of the scheme are now being felt throughout the industry, meaning it makes better financial sense for housebuilders to increase their production rates and address the country’s housing shortage. By doing this, contractors and suppliers like MKM will feel real benefits as money starts to flow through the wider industry."
 
David Kilburn, chief executive of MKM Building Supplies, said Mr Shapps showed an in-depth understanding of the building sector during his visit. "Hosting a visit from a Cabinet Minister is always very useful because it gives local business people the chance to quiz them and put their views across," he said. "Help to Buy has certainly had an impact on our bottom line. We are pleased the government is giving the building industry the support it needs and welcome the second phase of the scheme."

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