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Tory chairman lauds Help to Buy at MKM

Conservative Party chairman Grant Shapps MP used a visit to Hull independent builders merchant MKM Building Supplies to praise the government’s help to Buy scheme.

Tory chairman lauds Help to Buy at MKM

Addressing business leaders at the MKM branch in Alnwick with prospective MP for Berwick-upon-Tweed, Anne-Marie Trevelyan, Shapps said the landmark initiative would encourage house builders to ramp up construction further and that would be felt throughout the industry’s supply chain.

Tens of thousands of people have taken advantage of Help to Buy, which was launched in April and gives buyers access to interest-free government loans of 20 per cent of the price of a new property.

Now, as phase two gets underway, those moving up the property ladder or looking to buy older properties up to a value of £600,000 will become eligible for a loan.

Shapps said phase two would help bolster activity across the entire housing market and further incentivise builders to develop new residential sites.

“Phase one of Help to Buy has been a real success,” he said. “It has helped a lot of people on to the property ladder who would have struggled without some kind of assistance.

“The effects of the scheme are now being felt throughout the industry, meaning it makes better financial sense for house builders to increase their production rates and address the country’s housing shortage.

“By doing this, contractors and suppliers like MKM, where we are today, will feel real benefits as money starts to flow through the wider industry.

“We fully expect this to continue driving demand in the housing market and encouraging house builders to increase production.”

David Kilburn, chief executive of MKM Building Supplies, said: “Hosting a visit from a Cabinet Minister is always very useful because it gives local business people the chance to quiz them and put their views across.”

“Help to Buy has certainly had an impact on our bottom line,” he added.

“We are pleased the government is giving the building industry the support it needs and welcome the second phase of the scheme.”

Tory chairman lauds Help to Buy at MKM

Conservative Party chairman Grant Shapps MP used a visit to Hull independent builders merchant MKM Building Supplies to praise the government’s help to Buy scheme.

Addressing business leaders at the MKM branch in Alnwick with prospective MP for Berwick-upon-Tweed, Anne-Marie Trevelyan, Shapps said the landmark initiative would encourage house builders to ramp up construction further and that would be felt throughout the industry’s supply chain.

Tens of thousands of people have taken advantage of Help to Buy, which was launched in April and gives buyers access to interest-free government loans of 20 per cent of the price of a new property.

Now, as phase two gets underway, those moving up the property ladder or looking to buy older properties up to a value of £600,000 will become eligible for a loan.

Shapps said phase two would help bolster activity across the entire housing market and further incentivise builders to develop new residential sites.

“Phase one of Help to Buy has been a real success,” he said. “It has helped a lot of people on to the property ladder who would have struggled without some kind of assistance.

“The effects of the scheme are now being felt throughout the industry, meaning it makes better financial sense for house builders to increase their production rates and address the country’s housing shortage.

“By doing this, contractors and suppliers like MKM, where we are today, will feel real benefits as money starts to flow through the wider industry.

“We fully expect this to continue driving demand in the housing market and encouraging house builders to increase production.”

David Kilburn, chief executive of MKM Building Supplies, said: “Hosting a visit from a Cabinet Minister is always very useful because it gives local business people the chance to quiz them and put their views across.”

“Help to Buy has certainly had an impact on our bottom line,” he added.

“We are pleased the government is giving the building industry the support it needs and welcome the second phase of the scheme.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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