Communities and Local Government written question – answered at on 13 July 2010.
To ask the Secretary of State for Communities and Local Government what steps he plans to take to assist first-time buyers to enter the housing market.
The Government are committed to helping those who aspire to own their own home to do so. Freeing up lending for first time buyers and others depends above all on the return to economic and financial stability which the Government are seeking to achieve. The Government's programme of debt reduction and commitment to abolish the structural deficit in the life of this Parliament will help to keep interest rates low and improve credit availability.
The Coalition programme for government sets out our commitment to promoting shared ownership schemes, which allow first time buyers on modest incomes purchase a home. We will also be reviewing the low cost home ownership (HomeBuy) programme as a whole in the context of the comprehensive spending review.
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