Home Ownership: First-Time Buyers

Lord Hintze Excerpts

Thursday 23rd April 2026 Lords Chamber

[Baroness Taylor of Stevenage (Lab)]

I hope I set out in my earlier answer the importance we place on the mix of tenures. The £39 billion programme to increase the provision of social and affordable homes is designed to do exactly that. We are taking measures, particularly confidence measures for consumers, to help some of our young people to understand this. Probably two generations now have been told that house buying is out of reach, so, when I work with the financial institutions, which we have been talking to very closely, we are keen that they promote better some of the mortgage options that are available.

[Lord Hintze (Con)]

My Lords, does the Minister recognise that freezing tax bands makes it much more difficult for those in work and those striving to earn money to get to that £60,000? That is the problem in my view.

[Baroness Taylor of Stevenage (Lab)]

I can only repeat what I said: it is very important that we encourage our young people, and others looking to buy homes, to consider the wide range of options that are available. I mention two particular institutions that I have been talking to, Lloyds and Santander, which are already going out there with very extensive campaigns. I encourage anybody who is keen to buy a house to go and talk to a broker or lender, because there are options available for people.