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Over 240,000 first-time buyers Assisted by Help to Buy

by Paul Addison on June 30, 2017 No comments

Per the governments statistics, 240,000 first-time buyers have been legible to buy a house using Help to Buy.

According to the government, over 960,000 people have in total been aided by Help to Buy to save for a house.

The statistics imply that a minimum of 285,000 completions have gone underway using one or more of the Help to Buy schemes, 90% of these being outside of London.

Additionally, using the schemes over 240,000 first-time buyers have bought their first home.

Over 120,000 completions have been seen from the Help to Buy Equity Loan scheme.

The buyers are offered up to 20% of a newly built home’s costs, resulting in them needing a 5% deposit.

The housing and planning minister, Alok Sharma said:

“As set out in our housing white paper, we’re committed to helping those aspiring homebuyers currently locked out of the market to turn their dreams of home ownership into reality.”

“These figures show that Help to Buy: Equity Loan continues to be hugely successful, supporting thousands of households across the country to take their first step onto the housing ladder.”

Using the Help to Buy, data shows the following areas have seen the most property completions:

  • The North West,
  • Yorkshire and the Humber,
  • The South West.

From February 2016 and March 2017, London has seen 3,249 buyers use the London Help to Buy equity loan scheme to purchase a house.

£193,826 is the average house price across the schemes, below the average house price in the UK.

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Paul AddisonOver 240,000 first-time buyers Assisted by Help to Buy

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