Chancellor picks out Pendle as key area needing help in Government's 'Help to Buy' scheme (From Burnley and Pendle Citizen)
When news happens, text LT and your photos and videos to 80360. Or contact us by email or phone.
Chancellor picks out Pendle as key area needing help in Government's 'Help to Buy' scheme
7:30pm Wednesday 2nd October 2013 in News
PENDLE’s Conservative council leader has welcomed the Government’s ‘Help to Buy’ housing scheme after Nelson and Colne were name checked by George Osborne.
The Chancellor mentioned the Pendle towns as examples of places where people were keen to own their home, but couldn’t afford the deposit needed.
During his speech at the Conservative Party Conference, in Manchester, Mr Osborne said the scheme, which would reduce the size of deposit required to buy a house, would be introduced as early as next week.
Coun Cooney said: “This is a great way to get people on the housing ladder, as a local authority we have run a similar scheme.
“It is always nice to hear your borough mentioned by a senior cabinet member but the most important thing is that people in Pendle who could afford mortgage repayments, but can’t afford a deposit, will be given the chance to buy their own home.”
In his speech Mr Osborne said: “Too many people are still being denied the dream of owning their own home.
“So instead of starting the second phase of Help to Buy next year, we’re starting it next week.
“There are some people – many living in the richest parts of London – who say we shouldn’t be doing these things.
“I have this to say: Take you arguments down the road to Nelson or Colne, where house prices have fallen for the past five years.
“Take your arguments to Bury, or Morecambe, where young working couples are still living at home with their parents.
“Take your arguments to our great towns and cities where there are families who have saved for years, earning decent salaries, who can afford the mortgage repayments but can’t possibly afford the deposit being asked by the banks these days.”
Comments are closed on this article.