MP Says More Help Needed For First Time Buyers In Scilly

A recent housing association development on Bryher

A recent housing association development on Bryher

Scilly’s MP Andrew George says he’ll continue to press government ministers to do more to help young families and couples onto the first rung of the housing ladder through the ‘Help to Buy’ scheme.

He says the programme currently helps well off couples to buy their first or second home, but brings little benefit to Scilly because house prices aren’t affordable.

He wants more shared equity and shared ownership homes, which are within the reach of people on income levels found on the islands.

Mr George feels that projects like the recent Cornwall Rural Housing Association homes built here could be extended to shared-equity schemes, so locals could part-own properties.

Mr George also says people prepared to take a risk by setting up in business often find that lenders are not prepared to offer mortgages them without a number of years of trading history, even though their businesses are profitable.

Scilly has the highest entrepreneurial spirit. In 2011 Radio Scilly shared details of a report that found the islands has a business for every nine people, whereas London has fifteen people for every business.

He says extending the government’s guarantee would help owners of small businesses with their home buying, and that would have a big impact here.



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