Starmer promises mortgage and planning reforms if elected
Kier Starmer has committed to an overhaul of the planning system and pledged to reintroduce housing targets as he revealed plans for a permanent mortgage guarantee scheme to help get young people on the housing ladder.
Announcing the scheme, titled ‘Freedom to Buy’, which will ensure low-deposit mortgages for first-time buyers, the Labour party leader claimed his plans for housing policy will see more than 1.5 million more homes built over the next five years if he wins next month’s general election.
In a bid to get more young people on the housing ladder, Labour has committed to an overhaul of the planning system which will aim to fast track planning permissions for schemes on brownfield and “grey belt” land. This would also include a commitment to reinstate mandatory housing targets to support Labour’s wider plans to deliver 1.5m new homes over the next five years.
Starmer said the introduction of “Freedom to Buy” would get 80,000 people onto the housing ladder over the same time period.
This would be a permanent fixture if Labour were to win at the election and would allow government to act as a guarantor for people unable to afford large mortgage deposits.
Labour is expected to publish its full manifesto on Thursday 13 June.
“After 14 years of the Tories, the dream of home ownership is out of reach for too many young people,” Starmer said on X (formerly Twitter).
“With our Freedom to Buy scheme, my Labour government would make it a reality again.
“My parents’ home gave them security and was a foundation for our family. As Prime Minister, I will turn the dream of owning a home into a reality.”
Stephen Teagle, chief executive of Partnerships & Regeneration at Vistry Group and chair of the Housing Forum, said: “Vistry welcomes these proposals which will help more prospective buyers into home ownership. A clear focus on the importance of providing access to affordable housing within thriving communities is essential for so many families currently denied choice.
“Owning your own home is an aspiration for many young people and initiatives to facilitate affordable home ownership for households previously denied access such as Freedom to Buy will support continued investment in housing delivery.
“We are confident that the planning reforms and other initiatives set out by Labour will dismantle some of the current barriers to building more homes, enabling Vistry, as the country’s largest house builder, to work with our partners on delivering the homes that our local communities need.”
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