Labour pledges first time buyer support

04-May-2005

As the final week of the General Election campaign has unfolded, the Labour party has looked to woo aspiring first time buyers with a number of new promises.

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On Tuesday, Prime Minister Tony Blair said he wanted to help couples who were trying to start a family but were struggling with high house prices.

Speaking in Gloucester, Mr Blair insisted the problem of a lack of affordable housing and the difficulties faced by aspiring homeowners is not just "a London problem", adding that across the country young people are finding it "really tough" to get a foot on the property ladder.

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Speaking alongside Mr Blair, Chancellor Gordon Brown promised a third term of Labour government would release more public land, such as that currently owned by the NHS and government agencies and departments, for the building of affordable housing and key worker homes.

Mr Brown explained that using the government land would help to drive down house prices by reducing construction costs thereby enabling more young aspiring first time buyers to get a foothold on the property ladder.

Click here for information about key worker homes

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

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