B

Baroness Taylor of Stevenage (Lab)

Speaking in the House of Lords on 23 April 2026

Debate

Home Ownership: First-Time Buyers

Contribution

The noble Lord will not be surprised to know that I always agree with my right honourable friend the Prime Minister. Of course I also welcome the HCLG Select Committee’s work, which has particularly looked at the types of inequalities that the noble Lord highlights. Three in 10 people get help from family or parents and, increasingly, access is being determined by family wealth, not earnings. We are working hard on this. From speaking to lenders, we know that many first-time buyers are not aware of all the innovative mortgage products and recent mortgage reforms that may help them get on the housing ladder. We speak regularly to lenders on how to raise awareness of different options among first-time buyers, including hosting two major industry round tables last year, both of which were covered in the mainstream media. Of course, there is more work to do, and the Government are keen for all stakeholders who work with potential first-time buyers, including estate agents and brokers, to play their part in helping them understand their options.

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