Figures show Help to Buy is still going strong

Fri, 01 Aug 2014

Figures show Help to Buy is still going strong
The Help to Buy scheme is not slowing down according to new figures, and is therefore not likely to stop anytime soon.

June reportedly saw the sale of the highest number of homes per month since the scheme became available 15 months ago. It saw 4,300 property sales completed with the use of the Help to Buy scheme, adding to over 27,100 total sales.

Data from the Department for Communities and the Local Government have been reported to say that £1.1bn of loans have been offered through the scheme, aiding purchases that have overall totalled £5.56bn.

The prices of the houses sold have been a cause of controversy over the last year, with the original price cap (£600,000) being accused of being too high by some experts. The feeling was that the scheme would be used by people, who can afford to pay higher deposits, to pay smaller deposits on bigger houses, rather than help the poorer first time buyers it was aimed at.

However, this hasn't been the case. Judging by the reported figures, the median value of homes bought was just £187,000.

Nearly a third of sales fell between the £150,001 and £200,000 price bracket, while a fifth of values were between £200,001 and £250,000.

It was claimed by Brandon Lewis, housing minister, that the scheme has boosted the rate of private house building in the UK, as it was meant to do, but demand is still outstripping supply, and house prices are still high.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch