Video: Help To Buy 'Aids Social Mobility'
Published 11/11/2013 | 16:37
The Government's controversial mortgage guarantee scheme will help boost social mobility by opening up home ownership to those without wealthy parents, David Cameron has claimed. Figures showing average-income first-time buyers make up the bulk of 2,000-plus who have taken up the scheme in its first month. The Prime Minister said initial figures showed Help to Buy - which critics say risks fuelling a new house price bubble - was helping the "hardworking people" it was aimed at. He welcomed some of those accepted for a total of £365 million of home loans to a reception at Downing Street. Mr Cameron said the scheme would help address some of the concerns raised by former prime minister Sir John Major about the lack of social mobility in the country.