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Kris Hopkins has announced that over 35,000 home seekers have been given a helping hand onto the property ladder through ones of the current government’s Help to Buy scheme.
The Help to Buy scheme is welcomed by the Housing Minister, as the scheme is playing an important role in the government’s economic plan, which is providing people with the chance to take a step onto the property ladder whilst creating jobs in construction as the houses continue to be built.
New figures show, since the launch of the Help to Buy scheme 14 months ago;
22,831 people have purchased newly-built homes through Help to Buy: equity loan scheme,
7,313 sales through the Help to Buy: mortgage guarantee and
5,173 sales with the Help to Buy: New Buy scheme.
This takes the total sales through the Help to Buy scheme to over thirty five thousand.
It has been noted that across the country 86% of Help to Buy: equity loan sales were to first –time buyers.
Housing Minister Kris Hopkins said: “In 2010 we inherited a broken housing market, where hard-working people who could afford a mortgage were locked out of home ownership because they couldn’t get the deposit together. Help to Buy is changing that – to date, this scheme has enabled 35,000 people buy their own place with a fraction of the deposit they would normally require. And with house building up a third over the past year, it’s clearly having a wider impact, getting workers back on construction sites and building the homes communities want and need.”
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