Help to buy hits record high

The number of people purchasing a home through the Help to Buy scheme is at an all-time high, according to figures released today.
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The number of people purchasing a home through the Help to Buy scheme is at an all-time high, according to figures released today. The latest Help to Buy statistics show that in the financial year 2020/21 over 55,000 households bought their home with the support of Help to Buy: Equity Loan – a record year for the scheme.

Since the scheme was introduced 328,506 households have now purchased a home through Help to Buy. In total, the value of these equity loans has reached over £20 billion, with the value of the properties sold under the scheme going past the £90 billion mark. The scheme helps first-time buyers on to the housing ladder by providing a loan to put towards the cost of buying a newly built home.

Today’s figures suggest that the appetite for home ownership remains high across the country despite the challenges of the last 18 months. It was also announced earlier in the week that home builders across the country can bid for a share of £150m to support roll-out of the new First Homes scheme, helping local first-time buyers onto the housing ladder.

Housing Secretary Robert Jenrick MP said: “Over 55,000 households bought their home with the support of a Help to Buy Equity Loan last year: a record year for the scheme, which is helping young people and first-time buyers feel the sense of pride and achievement that comes with owning your own home. Whether it be Help to Buy, the 95 per cent mortgage guarantee scheme or First Homes – we’re doing everything we can to make home buying an affordable and realistic ambition.”

First-time buyers can find the right home ownership scheme for them, including Help to Buy Equity Loans, via the Own Your Own Home website which provides a single gateway for all routes on to the housing ladder.

Image courtesy Pixabay.

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