Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, what steps she is taking to ensure that new affordable housing built under the plan for 1.5 million homes will be accessible to first-time buyers whose deposit is less than 10 per cent.

The affordability challenges facing prospective first-time buyers mean that too many people are now locked out of homeownership.

In addition to increasing the supply of homes of all tenures, the government is supporting people into home ownership, including through the shared ownership scheme and the Lifetime ISA.

The government has also introduced a new, permanent Mortgage Guarantee Scheme, available to support and sustain availability of low deposit mortgage products for prospective buyers.

Additionally, the Bank of England is easing the loan-to-income limit, enabling up to 36,000 additional first-time buyers in the first year.

The Financial Conduct Authority’s (FCA) ongoing review of the mortgage market means many buyers can now borrow 10% more towards a property purchase. The government looks forward to ambitious proposals from the FCA’s paper.

First-time buyers may also benefit from home ownership initiatives offered at the local level.