Help to Buy deadline approaches
In this short article we look at the impact the 'Help to Buy' scheme has had with First Time Buyers
- There are less than three months left for First Time Buyers to benefit from the Help-to-Buy Equity Loan scheme. The deadline for new applications is 6pm on 31st October 2022.
- The Equity Loan scheme has helped over 300,000 First Time Buyers take a step onto the housing ladder since it was first introduced in April 2014.
- Unsurprisingly, the scheme was most popular in areas with higher house prices. 18% of the loans were in the South East, compared to only 6% in the North East.
- The scheme is only available on new build homes. Over 60% of new build homes built in the South East, South West and East of England , were priced at a level that would qualify for the scheme, encouraging many First Time Buyers to seize the moment.
- Source: Dataloft, DLUHC, Land Registry
