Construction News

30/10/2014

54,000 Homeowners Use Help To Buy Schemes

Over 54,000 homeowners in England signed up to the Help to Buy schemes, according to new figures.

The new figures show how Help to Buy is helping more and more people onto the property ladder and getting more homes built, with over 39,000 households buying new-built properties through the equity loan and NewBuy options, and 15,000 households buying through the mortgage guarantee.

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A further 3,400 new homeowners have been created in Scotland, Wales and Northern Ireland through the Help to Buy: mortgage guarantee.

Housing Minister Brandon Lewis said: "Today's figures clearly demonstrate the continuing success of the Help to Buy in supporting creditworthy, hardworking people who want to buy a home of their own.

"Over 54,000 new homeowners have now used the schemes as a valuable alternative to the Bank of Mum and Dad, enabling them to buy with a fraction of the deposit they would normally require.

"But it's also got Britain building and since the scheme's launch private house building starts has increased by a third."

(CD/IT)

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