YOUNG couple Jack Gayton and Hannah Fountaine’s names have been mentioned during Prime Minister’s Question Time in the House of Commons.
Their getting onto the housing ladder by buying a home on Technology Drive through the Government’s Help to Buy scheme was held up as an example of how it was working.
Previously they had had to rent a property, but are among 108 people who have been able to buy since the scheme was launched last year, according to Rugby MP Mark Pawsey.
This week the public accounts committee, an influential group of MPs, has claimed the government had yet to demonstrate the scheme was working and suggested it was simply lumbers taxpayers with risky loans.
Under the scheme first time buyers are given state-funded loans of up to 20 per cent towards the cost of a property as long as they can put forward a five per cent deposit of their own and get a mortgage for the remaining 75 per cent.
The loan – interest free for five years – must be paid back after 25 years or when the home is sold and how much depends on the market value at that time.
