30 Jan

First 9 months of Help to Buy hailed as success

First 9 months of Help to Buy hailed as success

The Help to Buy equity loan scheme has been hailed as a resounding success by the government, as new figures revealed that it helped almost 13,000 get on the property ladder in its first nine months.

On average, estate agents were able to help 46 new owners purchase a property every day through the scheme.

Some 22,000 new homes are thought to have been reserved by the government’s housing initiative, according to the figures.

From its start date in April, Help to Buy has allowed people to borrow up to 20 per cent of the price of a new-build property as long as they can pay five per cent of the deposit immediately.

Housing minister Kris Hopkins said that the scheme had helped aspiring home owners across the UK and that it had also benefited the wider construction industry due to the amount of new homes that needed to be built.ADNFCR-1222-ID-801688082-ADNFCR

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