Dear,

Between the years of 1997 and 2010, UK house prices went up around 2.5 times. In the same period, wages and inflation went up by considerably less. As a result, hard working first time buyers cannot buy until they are 37 years of age on average. Many have shared ownership of property – they take on huge debts to buy just part of a house or flat. Most young people find this extremely dispiriting and de-motivating.

Conservative governments traditionally favour those who work hard and endeavour to support themselves, believing that people should be rewarded for trying to better themselves and society. For this reason, I believe the new government would want to return to a stage where hard working young people can a buy a property of their own to live in.

House prices raging out of control, and the subsequent unprecedented taxpayer bailout of the banks should have been avoidable if:

1) House prices had been included in inflation targets

2) Mortgage finance had been limited to ‘safer’ levels

3) Second homes and buy-to-let property were taxed at the same level as income or above, without taper relief, indexation or other allowances to favour first home ownership

I understand that the new government intends to implement 1) and 3) and I urge you to make sure this is done. The alternative is to face a disenfranchised younger population, with no incentive to work hard to get a place of their own. The country is at risk of a further debt fuelled economic crash. Investors’ funds would move into assets and projects which benefit the economy (perhaps building new homes), instead of raising house prices and by default overall debt levels.

Second home ownership and buy-to-let must come second place to allowing tomorrow’s first home owners the chance of realising their dreams. I urge you to implement these policies.

Yours sincerely, .