Govt: Help to Buy 1 a lifeline for builders

Ryan Bembridge

February 15, 2016

The Help to Buy equity loan scheme funded new builds that wouldn’t have got off the ground otherwise, the government said.

Two in five (43%) new builds from Help to Buy 1 wouldn’t have happened without the scheme, while four in five (82%) buyers wouldn’t have been able to do so without the scheme.

More than 130,000 people have become homeowners since the launch of the scheme in 2013. It is set to run until 2020.

Brandon Lewis, housing minister said: “Anyone who works hard and aspires to own their own home should have the opportunity to do so and this report shows how the government’s Help to Buy scheme continues to turn those dreams into a reality.

“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 number of owners assisted by other government schemes is also expected to continue rising through London Help to Buy and the Help to Buy: ISA, which has now been opened by more than 250,000 people.”

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