George Osborne ‘bricks it’ during Persimmon Homes site visit

Chancellor of the Exchequer George Osborne has once again donned a hi-vis outfit for a spot of bricklaying during visit to a construction site to mark a leading housebuilder’s support for the Government’s Help to Buy ISA.

Osborne paid a visit to Persimmon Homes’ Elworth Park development in Sandbach, Cheshire, to promote the initiative. Help to Buy ISAs offer first-time buyers a 25% boost to their savings towards the purchase of a new home.

Mark Cook, managing director, of Persimmon’s Lancashire region, hosted the Chancellor’s visit.

“A 25% top-up to their savings is just the boost first-time buyers need to help them secure a deposit for their first home,” he said. “The scheme is bound to be extremely popular and we are delighted to be supporting it.”

Osborne was given a tour of the 120 home development where he tried his hand at brick laying and chatted with apprentice joiner Jake Adams.

The Help to Buy: ISA was unveiled by the Government in the 2015 March Budget before being introduced on December 1. The tax-free accounts offer first-time buyers a 25% Government top-up on savings of up to £12,000.

“There are now a number of initiatives to help people onto the property ladder,” added Cook. “The Help to Buy scheme is proving very popular across all of our developments. The Government-backed equity loan scheme is available to first-time buyers and people already on the property ladder and requires just a 5% deposit and a mortgage of up to 75% of the value of the property.”

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