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What are the political parties saying about mortgages?

In preparation for the upcoming general election on 4 July, it is crucial for voters to be well-informed about the housing and mortgage policies proposed by each political party.


The issue of housing, including mortgages, has taken centre stage in the election campaigns as homeowners have faced challenges due to high house prices, soaring mortgage rates, and affordability issues.


The significance of housing in the eyes of voters has notably increased, with 23% now considering it one of the top concerns facing the country, up from 11% in 2020.

To assist in understanding each party’s stance on housing and mortgages, here is a concise overview of the key pledges made by the major political parties:


I would add that history has taught us that what is discussed and what is then implemented can be two very different things, but in the interest of fairness, we will assume these pledges are genuine:




Prime Minister Rishi Sunak has proposed:


  • Making the stamp duty break for first-time buyers permanent.
  • The revival of the Help to Buy scheme for first-time buyers.
  • Continuation of the Mortgage Guarantee Scheme to support small-deposit mortgages.
  • Commitment to building 1.6 million homes across England in the next parliamentary term.




Leader Keir Starmer plans include:


  • Increase stamp duty for non-UK residents.
  • Proposal to build 1.5 million new homes and reform the planning system.
  • Intention to make the Mortgage Guarantee Scheme permanent under the name Freedom to Buy.


Liberal Democrats


  • Introduction of a Rent to Own scheme for social housing.
  • Pledge to build 380,000 homes annually, including 150,000 social homes.
  • Focus on controlling mortgage rates through economic management.




  • Pledge to reintroduce a simplified Help to Buy ISA scheme.


Green Party


  • Commitment to building 150,000 new social homes annually.
  • Introduction of a retrofitting program for homes to enhance energy efficiency.




  • Proposed new stamp duty rates based on property values.

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Speak to a MyContractorBroker specialist on 02394 211122

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