Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what steps his Department is taking to help first-time home buyers with their deposits.

This Government is committed to making homeownership a reality for as many households as possible.

We operate a range of schemes to support first-time buyers in purchasing properties, including First Homes, Shared Ownership, Right to Buy and the Mortgage Guarantee Scheme. Over 860,000 households have been helped to purchase a home since spring 2010 through Government-backed schemes. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA.

We have also increased the level at which first-time buyers start paying Stamp Duty from £300,000 to £425,000. First-time buyers will be able to access the relief on property purchases up to £625,000, compared to £500,000 previously. This will apply until end March 2025.