NEARLY 1,700 Hampshire families have secured their foot on the housing ladder under a flagship mortgage scheme.

Figures reveal 1,655 people have secured their dream homes in the county through the Government's Help to Buy scheme.

The project has helped 100,000 home owners nationally - the equivalent of 131 households a day - enabling them to snap up a mortgage with a five per cent deposit.

Now Tory politicians say it proves their plans to help more more people secure a place of their own are working.

But while Hampshire estate agents welcomed the scheme they stress more still needs to be done.

Their words come ahead of the Government extending the scheme to enable more people to get a place of their own.

The project is split into two with its equity loan scheme applies to new homes where the Government lends up to 20 per cent of the property cost so owners can access a 75 per cent mortgage.

It's mortgage guarantee scheme also applies to second hand homes and the Government offers lenders the option to purchase a guarantee on part of the loan.

Take-up varies hugely throughout the county from 265 homes in Eastleigh compared to just 37 in the more rural New Forest West constituency.

Southampton Itchen MP, Royston Smith, said: "Conservatives believe that everyone who works hard should be able to have a home of their own. But when we came to office, too many people couldn’t afford the huge deposit they needed to get on the housing ladder.

"Helping more families to buy their own home is a key part of our One Nation policies so that working people in all parts of the country are able to enjoy security and opportunity."

Viv Denyer, new homes development manager at Connells estate agents, said the scheme has had "massive benefits" for both first time buyers and those moving to bigger properties. She said that up to 75 per cent of new homes are being snapped up under the scheme - especially those worth under £300,000, adding: "It's really boosting our housing market and long may it continue."

But she added more homes need to be built to meet demand.

Georgia Munro Ford [CORR], branch manager of the Goadsby Southampton branch, also reported a surge in people buying new homes, adding: "It's been a success , enabling renters and with lack of savings to get onto the ladder. The whole housing market can move on."

Cameron Carter, manager of the Fox & Sons, Bitterne office, said it is "hugely helpful" but stressed the government needs to crack down on the rental market, adding: "Rents are still so expensive that people aren't able to save enough to get on the property ladder."

Brian Dawkins, director of Field Palmer estate agents, said it was more beneficial for those buying new homes rather than second hand ones.

Mr Smith said the government is doing all it can to build more homes but is against rent controls claiming there is a "buoyant" rental market.

Other Government schemes include building 200,000 new Starter Homes reserved exclusively for first-time buyers under 40 and the new Help to Buy ISA to help people save a deposit for their first home.

HELP TO BUY FIGURES.

Location Mortgage
Guarantee scheme Total sales –
Equity Loan scheme TOTAL SALES Romsey and Southampton North 23 84 107 Southampton, Itchen 105 97 202 Southampton, Test 82 136 218 Eastleigh 104 161 265 Romsey and Southampton North 23 84 107 New Forest East 83 7 90 New Forest West 35 2 37 Fareham 98 75 173 Winchester 26 27 53 Gosport 100 66 166 Meon Valley 76 161 237 Total: 755 900 1,655