What is the Freedom to Buy scheme? UK Labour Party’s mortgage plans explained

The Labour Party announced the Freedom to Buy scheme during the 2024 general election campaign. Here’s what we know so far about the housing policy.

A young man with a beard and his cute pet dog look at a laptop. They are surrounded by packed boxes, suggesting they are about to move house (image: Getty Images)
The Freedom to Buy scheme could help more young people onto the UK housing ladder (image: Getty Images)
(Image credit: Getty Images)

Labour made several key plays to attract the votes of prospective first-time buyers during the 2024 general election.

Sir Keir Starmer’s ‘Change’ manifesto pledged to reform the planning system and said it would resurrect the 300,000 a year housebuilding target. The document also promised to bring in major changes to the letting and leaseholding sectors.

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Henry Sandercock has spent more than eight years as a journalist covering a wide variety of beats. Having studied for an MA in journalism at the University of Kent, he started his career in the garden of England as a reporter for local TV channel KMTV.

Henry then worked at the BBC for three years as a radio producer - mostly on BBC Radio 2 with Jeremy Vine, but also on major BBC Radio 4 programmes like The World at One, PM and Broadcasting House. Switching to print media, he covered fresh foods for respected magazine The Grocer for two years.

After moving to NationalWorld.com - a national news site run by the publisher of The Scotsman and Yorkshire Post - Henry began reporting on the cost of living crisis, becoming the title’s money editor in early 2023. He covered everything from the energy crisis to scams, and inflation. He also has bylines in MoneyWeek.