The Department for Communities and Local Government (DCLG) has released its latest data on the governments Help to Buy equity loan scheme, revealing that 88,000 people have now been given a much needed boost onto the housing ladder.
Help to Buy was created in 2013 to support hard-working taxpayers who could pay a mortgage, but couldn’t afford the high deposits demanded by lenders in the wake of the financial crisis.
Together with the government’s Help to Buy: NewBuy scheme – which offers 95% mortgages for those buying new-build properties, the number of new home owners has reached almost 90,000, while 94% of Help to Buy completions took place outside of London.
Over half of Help to Buy completions have been for new-build homes, part of Government’s long term economic plan to help hardworking get on the housing ladder.