The number of people purchasing a home through the Help to Buy scheme is at an all-time high, according to government figures released today.
The latest figures show that, in the financial year 2020/21, over 55,000 households bought their home with the support of the Help to Buy equity loan – a record year for the scheme.
Over £20bn has now been lent to people looking to own their own home, as the government says it is committed to providing a “realistic and affordable” route into homeownership.
The government says that the value of the properties sold under the scheme has reached around £90bn.
Since the scheme was introduced, a total of 328,506 households have purchased a home through Help to Buy.
The aim of the scheme is to help first-time buyers on to the housing ladder by providing a loan to put towards the cost of buying a newly built home.
The government says today’s figures show that the appetite for home ownership remains high across the country.
Commenting on today’s figures, Housing secretary Robert Jenrick said: “Over 55,000 households bought their home with the support of Help to Buy Equity Loan last year – a record year for the scheme, which is helping young people and first-time buyers feel the sense of pride and achievement that comes with owning your own home.
“Whether it be Help to Buy, the 95% mortgage guarantee scheme or First Homes – we’re doing everything we can to make home buying an affordable and realistic ambition.”
Earlier in the week, it was also announced that homebuilders across the country can bid for a share of £150m to support roll-out of the new First Homes scheme, which also aims to help first-time buyers onto the housing ladder.
Image: sabthai/Shutterstock
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