HOW THE HELP TO BUY SCHEME HAS HELPED ENGLAND
- 15 Feb
According to the government, the Help to Buy Scheme which was introduced to boost the housing market has helped to buy over 100,000 homes across England.
Official figures from the Department for Communities and Local Government found the following:
- Help to Buy loans were used to purchase 76,559 homes outside of London between April 2013 and April 2016 - 30% of the 255,960 privately built new properties completed in that period
- There were 4,483 completions using equity loans, in London. This is equivalent to 11% of the 41,480 privately built homes over the same time
- Less than 1 in every 500 London homes has a Help to Buy loan, compared with one in every 200 elsewhere in England
- Since February, the government has increased the upper limit for new home-buyers in London from 20% to 40% of the property's value which meant an increase in the uptake of loans in Greater London
The BBC reports what a DCLG spokeswoman said:
"Help to Buy: Equity Loan has helped more than 100,000 households gets on the property ladder since it was launched in 2013.
"It is one of a number of housing schemes provided by the government, so people have a choice of what is right for them.
"There was little evidence the scheme was increasing house price."
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