THE LATEST Help to Buy figures realeased today show that the scheme has passed a 300,000 milsestone since its Launch in 2013.
The Help to Buy statistics show:
- 313,043 households have bought a home using the Equity Loan Scheme
- In the 3 months up to December 2020, there were 21,026 completions, the highest quarterly annual total ever and 40% higher than the same period in 2019
- Most of the home purchases in the scheme were made by first-time buyers, accounting for 257,520 (82%) of total purchases
Sam Legg is Help to Buy’s 300,000th homeowner, having recently bought his first home in Asfordby, Leicestershire living with his girlfriend Megan and dog Del Boy.
Sam, who works as a farmer, said: “I am very happy to have bought my first home which would not have been possible without Help to Buy. The whole process went very smoothly, and I hope many more people can be helped to buy their first home in the same way.”
Help to Buy Extension
The government recently announced a further two-month extension for Help to Buy customers following delays caused by the pandemic. The extension will run to 31 May, allowing homebuilders to complete the build and buyers to legally complete their purchase.
Purchasers can borrow up to 20% of the cost of a new build (40% in London), funding the balance via a mortgage and repaying the loan when they sell.