Paul Uppal: To ask the Secretary of State for Communities and Local Government what steps his Department is taking to ensure that providing first time property buyers with a partial mortgage guarantee does not reduce access to the housing market for existing property owners.
Grant Shapps (Minister of State (Housing and Local Government), Communities and Local Government): My Department is supporting the industry-led new build mortgage indemnity scheme. The scheme will apply to new build properties from participating builders and will be available to all potential buyers, subject to appropriate underwriting and selection criteria. This will include existing property owners who want to move house and buy a new build property.
Approximately 14% of transactions in England in 2010 were for new build properties. The scheme is intended to help builders to build more new homes, and support people to buy them.
Welcome. My name is Paul Uppal and I am the Member of Parliament for Wolverhampton South West.
I hope that this website will keep you up to date with what I am doing for the people of Wolverhampton both in the constituency and in Westminster.
PAUL UPPAL MP
Paul Uppal MP
House of Commons
London, SW1A 0AA
020 7219 7195
020 7219 5221 (fax)
Paul Uppal MP
14 Lichfield Street
01902 712 134
01902 238 931(fax)