Oral Answers to Questions

Andrew Cooper Excerpts

Monday 2nd November 2026 Commons Chamber

[Andrew Cooper (Mid Cheshire) (Lab)]

13. What steps she is taking to support first time house buyers.

[The Minister for Housing and Planning (Matthew Pennycook)]

The Government remain determined to revive the dream of home ownership. In the Budget, the Chancellor confirmed £4.7 billion for the Your First Home scheme, providing equity loans to help those who cannot rely on the bank of mum and dad to buy their first home. The Chancellor also announced a new first-time buyer ISA and reduced the lifetime ISA withdrawal charge to 20%.

[Andrew Cooper]

House prices in Mid Cheshire are nearly £20,000 higher than the regional average and have continued to rise over the last year. The Your First Home scheme will be a big help for my constituents, but it is also important that we increase the number of affordable homes being built. The National Housing Federation estimated that we could have delivered an additional 41,000 homes outside of London in the latest round of the social and affordable homes programme. What steps is the Minister taking to increase the funding available in the early years of the social and affordable homes programme?

[Matthew Pennycook]

As my hon. Friend will be aware, the Chancellor committed an additional £1.5 billion for the social and affordable homes programme at the Budget, taking its total allocation to over £40 billion. In August, we announced initial funding allocations for the programme, with £9.58 billion being awarded to 33 strategic partners outside of London. Over £16 billion remains available outside of London across the lifetime of the programme. Homes England will confirm scheme-by-scheme allocations via the continuous market engagement route in the usual way.