The Prime Minister, Theresa May, visited our Scholars Green development in Walkden on Monday 2nd October following the announcement that the Government will invest a further £10 billion to support the Help to Buy scheme.
Mrs May was in Manchester for the Conservative Party Conference, and was joined at the development by the Chancellor, Philip Hammond, and the Secretary of State for Communities and Local Government, Sajid Javid.
They met with Chief Executive David Thomas and were given a tour of the site by our Regional Managing Director, Bernard Rooney and Managing Director, Neil Goodwin.
They also met Rebecca Coulton and Christopher Leyland who used Help to Buy to secure a home of their own at Scholars Green. And multiple Pride in the Job Award winning Site Manager, Steve Jordan, who explained the construction process and delivery of homes at the site.
Already Help to Buy has helped almost 6,000 households in Greater Manchester buy a new home. The new funding will give an additional 135,000 homebuyers across the country the chance to make a home move with a low deposit.
The scheme, which launched in 2013, allows buyers to purchase a new home with just a 5% deposit and a 75% mortgage. The remaining 20% is funded by an equity loan from the Government, interest-free for the first five years and repayable on the sale of the home.
The Prime Minister said: “I was delighted to visit Barratt Homes’ Scholars Green development to meet Rebecca and Chris who have been able to use Help to Buy to buy their first home.
“Help to Buy is helping tens of thousands of people access home ownership but it’s also helping to drive construction of the homes we need and the creation of vital jobs and investment in local communities.
“It was great to see for myself the work that is going into building those homes”
David Thomas, Chief Executive said, “It was excellent to be able to discuss with the Prime Minister how this funding will benefit people across the North West and further afield, as well as show her and the other Ministers the work we are doing in Manchester to deliver high quality new homes.
“Help to Buy is helping make home ownership more affordable and whilst it is also available for second steppers, more than 80% of people using Help to Buy are first time buyers. This investment is what young people need to get a foot on the property ladder.”