Help to Buy 2 lending reaches £2.7bn

Sarah Davidson

September 11, 2014

Since it was introduced nine months ago 18,564 mortgage completions have been made using the scheme, with the value of the mortgage guarantee alone totalling £388m.

In May and June Help to Buy 2 completions reached record levels, as there were 7,918 loans with the value totalling £1.15bn.

The scheme has supported a significant proportion of mortgages in the North West (2,513) and the East (1,865), in comparison to London (965).

The mean value of a property purchased or remortgaged through the scheme is £153,148, compared to a national average of £265,000.

So far 79% of purchases using the scheme have been to first-time buyers.

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