This has been increasingly popular to help First Time Buyers get onto the property ladder, and to benefit those unable to afford a full deposit for a new build. In fact over the last 5 years almost 170,000 buyers across England have benefitted from the Help to Buy equity loan scheme, borrowing £8.9 billion on property sales of over £42 billion.
Take up from the scheme has been building. In the last 12 months there were just over 41,000 loans issued, a 21% increase on the previous 12 month period. First-time buyers have benefitted most, accounting for 81% of loans issue under the scheme.
Meanwhile, the last five years have seen the proportion of new build properties bought with the help of the scheme rise steadily. We estimate that in the first quarter of 2018 more than half of all new build properties have been bought with the assistance of Help to Buy!
Across Wales, 6,891 loans have been issued under the equivalent scheme, of which 75% have been to first-time buyers, totalling £254 million on property worth £1.28 billion.