Chancellor visits Amber Valley

Amber Valley Conservatives played host to the Chancellor of the Exchequer, George Osborne, who visited the Denby Bank development site on the border of Denby and Marehay.

Mr Osborne came to visit the new-build site, which also incorporates new affordable and Social Housing to talk about the Help to Buy scheme, which has been launched by the Treasury to help hard-working people to get on, or move up, the housing ladder.

This is part of a £5.4bn scheme being implemented by the Government who will provide up to 20% of the value of a new home in an equity loan towards a deposit, meaning that people will be able to get up to 95% mortgages.

A mortgage guarantee scheme, due to be launched in 2014, will help those who want to buy an older home.

Councillor Kevin Buttery said: “There is a clear need for additional housing within Amber Valley. The shortage of mortgages for the first time buyer is a problem that the government is right to address. The Help to Buy Scheme is about breathing new life into the housing market, which has been hit by banks demanding bigger deposits from homebuyers. It will help the construction industry, create jobs and contribute towards the local economy.”

Nigel Mills, who welcomed the Chancellor and accompanied him on a tour of the Crest-Nicholson, site said: “The new scheme will provide the necessary investment to boost our housing stock. I’m pleased that the scheme is already working, with one person already signing up on the site in Denby and another hopefully at the weekend. This visit should help publicise this scheme which is there to help local people get on the housing ladder. I would recommend that any of my constituents who don’t think buying a house is a viable option look in to the Help to Buy scheme.”