Help to Buy helps to build – Govt.
February 2016

More than 40% of new homes built under the Help to Buy: equity loan scheme since 2013 would have not been built without introduction of the scheme, according to a Government report published yesterday (Feb 15).

The report also found that 82% of buyers under Help to Buy: equity loan would not have been able to purchase their home without the scheme helping them meet their ownership aspirations.

Now more than 130,000 people have now been able to become homeowners since the launch.

Housing Minister Brandon Lewis said:

“We’ve got the country building again and seen the number of new homes increase by 25% in the last year alone with thousands of people across the country helped by the scheme.”

The report shows that builders have seen improved confidence in the market because of the scheme and that it has encouraged more lenders to enter the market. It is also helping people move up to bigger homes.

The research found that the average price of homes under the scheme is £212,000, £55,000 below the UK average of £267,000 and that it has brought down the average deposit needed.

Help to Buy: equity loan has been extended to 2021 through a further £8.6 billion and will help up to 145,000 more people take steps towards owning their own home.