Labour mortgage pledge

Highlands and Islands Labour MSPs David Stewart and Rhoda Grant are backing the party’s first manifesto pledge ahead of May’s Scottish election to effectively double the help first time buyers currently receive towards saving for a deposit.

Under the plans, a person who currently saves through a first-time buyer ISA with a government top up to the value of £3,000 would be entitled to an additional £3,000 from a Scottish Labour Government to help toward the cost of a deposit to buy a property.

This means that the average couple each saving £100 a month could have a £15,000 deposit within three years.

The MSPs said just 28% of under-34s in Scotland now own their home with a mortgage - a drop of 15% over the period of the SNP Government.

David Stewart said: “Everyone deserves a home and a chance, but too many young people are either living at home with their parents or stuck in expensive rents unable to get that first foot on the housing ladder.

“Home ownership is a big ambition for hundreds of thousands of young people but for too many it remains an ambition rather than a reality.”

Rhoda Grant said: “We'll fund our promise by reversing the SNP's plans to cut air passenger duty.

"A tax cut costs money, and we think that money would be better spent helping make the aspirations of young people in the Highlands and Islands a reality rather than making a plane ticket."

Labour MSPs back first time buyers mortgage help pledge

5 January 2016