The Chancellor George Osbourne used today’s budget to set out plans to help even more home buyers onto the housing ladder through a ‘help-to-buy’ ISA.
Using the scheme savers will receive £50 from the government for every £200 they put into the ISA towards a deposit for their first home.
Steve Errington, Chief Executive of Story Homes welcomed the announcement as a positive step forward for the house-building industry. He said: “Story Homes welcomes the Chancellor’s proposal to introduce a ‘help-to-buy’ ISA.
“By contributing to first-time buyer’s savings in this way would-be homeowners will be able to move into their own home much sooner. This is good news for homeowners and house builders, it will boost confidence in the sector and lead to the construction of new properties.
“We have already seen the positive effects of ‘help-to-buy’ on our industry and this proposal will offer more help to those looking to take the first rung on the housing ladder.”
Story Homes already offers a number of incentives, including the Government Help to Buy scheme to help customers secure their dream Story Home.