- Figures released today show a record number of people buying
a home through the Help to Buy: equity loan scheme
- Over £20 billion has been lent to help people into
homeownership since start of the scheme
- Despite impact of COVID-19 housing market remains healthy as
more first-time buyers get on the housing ladder
- Government committed to providing a realistic and affordable
route into home ownership
The number of people purchasing a home through the Help to Buy
scheme is at an all-time high, according to figures released
today (13 August 2021).
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 show the appetite for home ownership remains high
across the country with the government committed to supporting
first-time buyers and hard-working families into home ownership.
It was also announced earlier in the week that home builders
across the country can bid for a share of £150
million to support roll-out of the new First Homes scheme
helping local first-time buyers onto the housing ladder.
Housing Secretary MP said:
Over 55,000 households bought their home with the support of
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% mortgage guarantee scheme or
First Homes – we’re doing everything we can to make home buying
an affordable and realistic ambition.
Holly Roberts, 27, is one of the thousands of people who have
benefitted from the scheme over the past year having recently
purchased a property in Poole, Dorset.
Holly said:
It feels really good to have my own home, I just love having my
own place and knowing that I did that through my own hard work.
I wouldn’t have been able to get on the housing ladder without
Help to Buy. That equity loan just helped me bridge the gap
between what I could borrow from a mortgage and the sort of
prices I was looking at around this area.
I would recommend help to buy to other people. I genuinely
think it is such a good government scheme.
First-time buyers can find the right home ownership scheme for
them, including Help to Buy: equity loans, via the Own Your Home website which
provides a single gateway for all routes on to the housing
ladder.
The website is an easy and accessible way for first-time buyers
to start their home ownership journey and find the right
government scheme for them.
