Partly Cloudy

Partly Cloudy

max temp: 20°C

min temp: 13°C

Search

Help to Buy home buyers total approaches 13,000

PUBLISHED: 11:09 30 January 2014

National: Almost 13,000 home buyers have used the first phase of the Government’s flagship Help to Buy scheme to purchase a new-build property in its first nine months.

Figures released by the Department for Communities and Local Government (DCLG) showed there have been 12,875 sales of newly-built properties through the Help to Buy equity loan scheme in England since its launch, with a further 6,446 sales in the pipeline.

The Government said the equity loan scheme has created 46 new home owners every day since its launch.

The Help to Buy equity loan scheme enables first-time buyers and home movers to buy a newly-built home with a deposit of at least 5% of the property price, while the Government offers a loan of up to 20% and the rest is covered by a mortgage.

The figures for the first phase of Help to Buy cover England only, with other nations within the UK launching their own versions of the scheme.

The DCLG said Leeds is the top hotspot for Help to Buy sales using the equity loan scheme, with Wiltshire, Central Bedfordshire, Milton Keynes and Manchester completing the top five areas.

A second phase of Help to Buy, covering the whole of the UK, was launched in October and offers state-backed mortgages to people with 5% deposits who want to buy a new-build or an existing home.

Housing minister Kris Hopkins said: “I’m delighted that through the Help to Buy scheme we’ve helped thousands of hard-working people realise their dream of becoming homeowners, getting onto the property ladder using this valuable alternative to the bank of mum and dad.”

ends

Comments have been disabled on this article.

A driver has been arrested after a three vehicle crash in Suffolk claimed a man’s life and inflicted serious injuries on his young passenger.

The company which runs Foxhall Stadium today pleaded guilty to jeopardising the safety of the public at the speedway and banger racing venue.

The mother of missing Corrie McKeague has said thank you to the “incredible” army of thousands of people who pressured police into halting a landfill cell from being filled in.

A team of Suffolk social workers are preparing to realise a shared ambition of conquering Britain’s highest peaks, while raising funds for East Anglia’s Children’s Hospices (EACH).

Jesse Webb can be forgiven for not remembering the final score of the first football match he attended the year was 1923 and he was only a six-year-old.

NHS job vacancies in the east of England in the first quarter of 2017 have reached 8,612 - an increase of 13% on the year before.

Campaigners are preparing for a big battle with the government to try to get funding for a major upgrade on one of the most important rail junctions in Suffolk.

Six former Radio Caroline and offshore presenters will be joining a special celebration this autumn to commemorate the pirate station’s early years on the airwaves off Suffolk.

The centenary of the Battle of Passchendaele is to be marked next week with a special ceremony in the heart of Ipswich.

The University of Suffolk’s HR boss has joined a top association in higher education which provides a voice for administrators in the industry.

Most read

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24