09 December 2015

Help to Buy: helping 130,000 own their own home

Help to Buy has helped over 130,000 people achieve their aspiration of buying their own home since it was launched, latest figures reveal.

The main points are for Help to Buy: Equity Loan are:

  • 62,569 properties were bought (legal completions) with the support of the Help to Buy: equity loan scheme

  • the majority of sales were to first-time buyers (50,969 representing 81% of total sales)

  • the average purchase price was £217,999

First-time buyers

As today’s statistics show, Help to Buy is helping people who need it most, with 100,000 households having bought their first home thanks to the scheme.

This is 80% of overall Help to Buy buyers, demonstrating that the scheme is successfully targeting those who need help getting on the housing ladder.

First-time buyers will have a further boost from the Help to Buy: ISA, which banks and building societies across the UK are offering as of last week. Under this scheme, first-time buyers can save up to £200 a month towards their first home and the government will boost their savings by 25%, or £50 for every £200, up to a £3,000 bonus.

14 banks and building societies have already signed up to offer Help to Buy: ISAs. These lenders are: Aldermore, Bank of Scotland, Barclays, Clydesdale Bank, Halifax, HSBC, Lloyds Bank, Nationwide, NatWest, Newcastle Building Society, Santander, Ulster Bank, Virgin Money and Yorkshire Bank.

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