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<p>This Government is committed to increasing opportunities to help people achieve
the aspiration of home ownership. Almost 270,000 people have been helped to buy a
home since 2010 using government-backed schemes. In the Autumn Statement we announced
that the Help to Buy: Equity Loan scheme will be extended for five years to 2021 with
£8.6 billion of additional funding. This will assist the sale of up to 145,000 more
new-build homes. We will also launch London Help to Buy in early 2016, increasing
the equity loan in London from up to 20% to up to 40%, in recognition of the specific
affordability issues resulting from higher house prices in the capital.</p><p>The
Autumn Statement also confirmed a total of £8 billion for over 400,000 affordable
homes, including £4.1 billion for 135,000 new Shared Ownership homes. This also includes
delivery of 200,000 Starter Homes at a 20% discount for young first time buyers, with
£2.3 billion committed to supporting these. As well as reinvigorating the Right to
Buy in 2012, we have secured a historic deal with housing associations to give their
tenants the opportunity to buy their home with an equivalent discount to the Right
to Buy.</p>
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