Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the potential effect of house prices across the UK on the number of first time buyers (a) applying and (b) securing mortgages on properties.

The Government remains committed to helping as many first-time buyers as possible to secure homeownership. The Government runs a wide range of schemes to help first-time buyers to access the housing ladder, including the mortgage guarantee scheme, which helps those who are only able to raise a 5% deposit, and the Lifetime ISA, which helps people to save for a deposit. A full list of Government-run housing schemes is available on the following website: https://www.ownyourhome.gov.uk/.

In 2021, over 400,000 first-time buyers were able to take their first steps on the housing ladder. This is in comparison to circa 300,000 in 2020, and is the highest number in 20 years.