Labour launches scheme for first-time buyers

Hilary Benn and Josh Fenton-Glynn meet first time home buyers Danny and Sarah at Hove Edge.
Hilary Benn and Josh Fenton-Glynn meet first time home buyers Danny and Sarah at Hove Edge.

Hilary Benn, Shadow Communities Secretary , joined Labour PPC for Calder Valley, Josh Fenton Glynn in Brighouse to highlight Labour’s pledge to put first-time buyers priority on new homes built and zero stamp duty.

Mr Benn and Mr Fenton-Fenton-Glynn visited the home of Labour member and former independent council candidate for Brighouse Danny Murphy to talk about the issues young people have getting on the property ladder.

Hilary Benn and Josh Fenton-Glynn meet first time home buyers Danny and Sarah at Hove Edge.

Hilary Benn and Josh Fenton-Glynn meet first time home buyers Danny and Sarah at Hove Edge.

Under the scheme, Labour has pledged to reduce stamp duty to zero for first-time buyers for homes worth up to £300,000; give first refusal on new homes to first-time buyers who have lived in an area for three years; and prevent foreign investors buying up new properties before they are advertised locally.

Mr Benn said: “It’s just too expensive for families to buy a home today, saving up for the deposit, paying the fees and having enough left over for the stamp duty.

“A Labour government will abolish stamp duty for all first time buyers of homes under £300,000 and we’ll give first time buyers that have lived in an area for more than three years “first call” on up to half of homes built in their area.”

Mr Fenton-Glynn said: “The Tories have presided over the lowest level of housebuilding for almost one hundred years and the lowest rate of home ownership for a generation.

“Instead of building new homes they have introduced a bedroom tax. Labour would build more homes and force property developers to develop derelict sites.”