THE Managing Director of a housing company has welcomed the Government’s promised Help to Buy boost and Theresa May’s pledge to ‘reignite home ownership.’

The PM made her announcement at the Conservative Party conference in Manchester last week.

Now Millwood Designer Homes boss John Elliott has welcomed the news.

He said: “I am delighted Theresa May is fully backing the UK housing market and is getting the government back into the business of building houses.

“The Prime Minister has announced the Government will find an extra £10 billion for the Help to Buy scheme in order to assist another 135,000 people onto the property ladder.

“One of the key points of her speech was a commitment to restoring hope and fixing the current housing market.

“As a small house builder, it is fantastic to hear that that the government will be making a conscious effort to provide the land needed to build these new homes, so we are able to deliver the ambitious targets set by the Government.

“In the new build market, Help to Buy is the single most important factor fuelling activity among first time buyers and its importance should not be underestimated..”

He said that the PM’s announcement of an extra £10 billion funding for the initiative has come at exactly the right moment, delivering a big boost of confidence amongst first-time buyers and home builders.

He said: “At Millwood, we firmly support the Help to Buy initiative as a means to assisting home ownership, especially for first time buyers.

“We have seen particularly strong uptake of Help to Buy at our current Hastings-based development Woodlands View, where at least half of the homes sold have been through the Government-backed initiative.

“I have no doubt that the combined effect of the extra boost for Help to Buy and a Government committed to helping British homebuilders where possible, will create greater stability economically and renewed confidence for the UK housing market.