Boris Johnson has announced plans for a scheme in which he hopes will “turn generation rent into generation buy” through 5% mortgage deposits for first time buyers.
The Prime Minister made the announcement at the Conservative Party’s virtual conference today.
Mr Johnson reiterated his election manifesto promise to encourage a new market in long-term fixed-rate mortgages and indicated that the plan would help to create two million new homeowners in the UK, but did not offer significant information as to how this would be carried out.
In his speech, he said the Tory party needed to “fix our broken housing market” by working with leading experts to help young people who struggle with deposits get their foot on the property ladder.
But added that: “These reforms will take time and they are not enough on their own”.
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He went on to acknowledge that home ownership among young people had plummeted, and promised to change the planning system to allow for what he claims is the biggest expansion of home ownership since the 1980s.
"We will help turn generation rent into generation buy"
Boris Johnson tells conference young, first-time buyers should have access to a "long-term fixed-rate mortgage", giving the chance of home-ownership to "millions who currently feel excluded"https://t.co/I4rVU1oOGjpic.twitter.com/CO8YFahxMt
The Prime Minister said: “We need now to take forward one of the key proposals of our manifesto of 2019: giving young, first-time buyers the chance to take out a long-term, fixed-rate mortgage of up to 95% of the value of the home – vastly reducing the size of the deposit and giving the chance of home ownership – and all the joy and pride that goes with it – to millions that feel excluded.
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“We believe that this policy could create two million more owner-occupiers – the biggest expansion of home ownership since the 1980s.
“We will help turn generation rent into generation buy.”
The Prime Minister also claimed in his speech that he would “transform the sclerotic planning system”, which would make it quicker and easier to build new homes.
Today’s announcement follows on from the 2019 Conservative Party manifesto which pledged to: “Encourage a new market in long-term fixed rate mortgages which slash the cost of deposits, opening up a secure path to home ownership for first-time buyers in all parts of the United Kingdom”.
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In response to the Prime Minister’s speech, Angela Rayner – Deputy Leader of the Labour Party – said: “The British people needed to hear the prime minister set out how he and his government will get a grip of the crisis.
“Instead we got the usual bluster and no plan for the months ahead.
“We end this Conservative conference as we started it: with a shambolic testing system, millions of jobs at risk and an incompetent government that has lost control of this virus and is holding Britain back.”
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Police appeal to find next of kin after man found outside Palace Theatre
Daisy Jackson
Police are trying to track down the family of a man who died after being found unresponsive outside the Palace Theatre in Manchester.
The man, who has now been named as Jonathan Bernard Carroll, was seen outside the city centre theatre at around 6.30am on Tuesday 12 November.
Emergency services rushed to the scene and Mr Carroll was taken to hospital.
Tragically, the 47-year-old passed away a short time later.
A large cordon was in place on Whitworth Street and Oxford Road while police and security attended the incident.
Greater Manchester Police are now appealing to find his next of kin.
It’s believed that he resided in the Salford area of Greater Manchester.
Anyone with any information should contact the Coroner’s Office on 0161 856 1376.
Greater Manchester public urged to help get people ‘off the streets and on their feet’ before Christmas
Emily Sergeant
Locals are being urged to help get hundreds of people “off the streets and back on their feet” this festive season.
As the temperatures told colder by the day, and Christmas creeps closer and closer, Greater Manchester Mayor’s Charity is bringing back ‘1000 Beds for Christmas’, and the massively-important initiative is aiming to provide 1,000 nights of accommodation to people at risk of homelessness before the big day arrives.
Forming part of the ongoing ‘A Bed Every Night’ scheme, this festive fundraising mission is designed to provide food, shelter, warmth, and dedicated vital wrap-around support for those who need it most.
The charity says it wants to build on the “incredible success of 2023”, which raised more than £55,000 and provided 1,800 nights of accommodation.
Stockport-based property finance specialists, Together – which has supported the campaign for the last two years – has, once again, generously pledged to match every public donation for the first £20,000 raised.
Unfamiliar with the ‘A Bed Every Night’ scheme? Since 2017, when rough sleeping peaked, the initiative has helped ensure a significantly-higher rate of reduction in the numbers of people facing a night on streets in Greater Manchester than seen nationally.
The landmark scheme has given people the chance to rebuild their lives, while also giving them access to key services and opportunities that allows them to stay off the streets for good.
Despite the scheme’s recent success, organisations across Greater Manchester are under “a huge amount of pressure” to meet the demand for their services this winter, and given the current economic outlook, household budgets will continue to be squeezed – leaving people on the sharp end of inequality and poverty.
The Manc -
6th October 2020 
