South East sees highest uptake of Help to Buy loans

Michael Lloyd

November 19, 2019

The South East has had the highest uptake of the Help to Buy equity loan since its introduction in 2013, Compare the Market has found.

The region saw 35,864 loans used, whereas in the capital this number was almost half (16,738).

Just 13,805 houses were bought under the scheme in the North East.

Over 200,000 homes have been bought in England using the Help to Buy equity loan since its launch, with the government lending a total of £11.7bn.

The number of houses being bought under the scheme has steadily increased from 14,023 in 2013 to 52,057 in 2018.

Some 81% of those taking advantage of the Help to Buy equity loan were first-time buyers.

Whilst it had a relatively low uptake compared to other regions, London has received the second largest amount from equity loans.

This was largely due to higher property prices and the fact that Londoners are entitled to a loan of 40% of the property’s value rather than the 20% available elsewhere.

At local authority level, the areas which have seen the most homebuyers take advantage of the scheme are Wiltshire (3,115) and Central Bedfordshire (2,958).

In contrast, the areas with the lowest take-up were the London boroughs of the City of London (5) and Kensington and Chelsea (9).

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