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Labour plans state mortgage scheme to boost young buyers

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22/05/2017
Labour is working on a 'state-backed mortgage scheme' that would help young adults buy a home.

The party has already pledged to make housing one of its key messages in the build-up to the 8 June vote.

It has promised to build over a million publicly funded new homes in five years, with at least half a million being council homes.

According to a report from BBC Newsbeat, Labour leader Jeremy Corbyn told the broadcaster about the plans at a rally in Birmingham.

He noted that there should be a mix of rental and purchase property for young people but that “very high deposits” were a problem.

The Labour Party did not respond to a request for comment on the policy.

Election battle

Building more houses has been a key part of the election debate so far.

The Conservatives said they would deliver on their 2015 commitment to build one million homes by the end of 2020 and added half a million more by the end of 2022.

They have also pledged to see through reforms included within the Housing White Paper.

And the Liberal Democrats vowed to offer new direct spending on house building to help build 300,000 homes a year by 2022.

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