Young families given help to buy their homes

right to buy

right to buyYoung parents up and down the country have struggled to make that all-important first step onto the property ladder this year, with high mortgage deposits taking their toll.

However, some slightly more positive news might now be on the horizon for families, as the Government has decided to increase the discounts it offers to council tenants who want to purchase their own homes.

In a bid to boost the Right to Buy scheme, ministers said they would like to see the discount increased to a maximum sum of £50,000.

Affordable rental homes will be commissioned by the Government in order to replace any extra properties which social tenants choose to purchase.

Grant Shapps, the country's minister for housing, stated: "The previous miserly restrictions on discounts meant Right to Buy became, for many tenants, nothing more than an empty promise - a social mobility scheme run by Ebenezer Scrooge.

"That's why I am today publishing proposals that will dramatically increase the discounts under Right to Buy, ensuring it once again becomes a meaningful tool to support social tenants who want to buy the home they live in."

Check out this mortgage guide in order to ensure you're getting the best deal on your home loan.