Help to Buy – more than 2000 people have offered under the scheme

14 November 2013

The new government figures have revealed that over 2000 people have made offers on a property using the Help to Buy scheme which totals £365 million of new mortgage lending. 

The government’s figures have shown that on average households have asked to borrow around £155,000 for a property worth around £163,000, which is reported to be below the average value in the UK of £247,000.
Lloyds and the Royal Bank of Scotland are the first participating banks which are backing applications with a decision in principle for 95% mortgages. The government’s figures have also revealed 10 of the 2000 plus applications have already completed. More than three quarters of applicants are reported to be first time buyers, many of whom are in their early thirties. 
Prime Minister David Cameron said: “The best thing about Help to Buy isn’t the statistics - it’s who is really benefiting. Most Help to Buy applicants are first-time buyers, young and have a roughly average household income. This is all about helping hardworking people get on the first rung of the property ladder - and helping them get on in life.The new government figures have revealed that over 2000 people have made offers on a property using the Help to Buy scheme which totals £365 million of new mortgage lending. 

The government’s figures have shown that on average households have asked to borrow around £155,000 for a property worth around £163,000, which is reported to be below the average value in the UK of £247,000.

Lloyds and the Royal Bank of Scotland are the first participating banks which are backing applications with a decision in principle for 95% mortgages. The government’s figures have also revealed 10 of the 2000 plus applications have already completed. More than three quarters of applicants are reported to be first time buyers, many of whom are in their early thirties.

Prime Minister David Cameron said: “The best thing about Help to Buy isn’t the statistics - it’s who is really benefiting. Most Help to Buy applicants are first-time buyers, young and have a roughly average household income. This is all about helping hardworking people get on the first rung of the property ladder - and helping them get on in life.”

Back to index