First-time Buyers
Value of Help to Buy equity loans lent passes £600m
Written By:
Samantha Cordon
Posted:
Updated:
27/02/2014
Equity loans taken out under the Help to Buy scheme since its inception have reached a total value of
Since the scheme launched in April 2013 14,823 equity loans have completed to the end of January , 89% of which were for first-time buyers.
The average price of properties being purchased using the scheme was £184,000 with an average equity loan of £36,599.
Leeds topped the table as the council which completed the most purchases with 268.
The Help to Buy equity loan scheme can be used to purchase a new build property up to the value of £600,000 with a 20% equity loan up to a maximum of £120,000.
The government has set aside a pot of £3.5bn to service the equity loan scheme.
