June sees the highest number of Help to Buy purchases since scheme launch
The Government’s Help to Buy scheme was launched in 2013. Since then, over 56 thousand properties have been purchased through this scheme with a value of £2.42 billion.
And, in June alone, 4,745 people received equity loans through the Help to Buy scheme which is the highest number since 2013 when the scheme launched. This is according to figures published in the Financial Reporter on 9th September.
What this means for home buyers
Adam Nanson Managing Director from Your Mortgage Expert comments:
“Most of the people who purchase properties with the help of the Government’s Help to Buy scheme are First Time Buyers. And, since the loan makes the property on average 22%* below the average UK house price, we find that many of our clients who are eligible can really save money. This scheme can genuinely help people get on the property ladder or move up the property ladder.
How Your Mortgage Expert can help
Adam Nanson continues:
“Despite the increase in the number of Help to Buy purchases, we are still finding that many home movers and First Time Buyers do not understand these types of loan and whether they would be eligible to apply.
“We understand how these mortgages work, how to apply and can find you the most appropriate deal. We can also help you understand what you can afford and which of the lenders who have signed up to the scheme would be best for you.”
If you are interested in finding out more about the Help to Buy scheme why not contact Your Mortgage Expert. We don’t charge for the initial consultation, so by speaking to us, you are under no obligation. We are based in Salisbury, Wiltshire, but we can help you no matter where you live in the UK.
Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.
You might also find it useful to read the dedicated Help to Buy page on our website. Alternatively, read about Chris, a First Time Buyer from Fareham. Adam Nanson from Your Mortgage Expert helped him to buy a property using the Government backed Help to Buy equity loan scheme.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
*source: Financial Reporter 9th September 2015