25,000 take up government housing schemes

25,000 take up government housing schemes

The latest government figures show that over 25,000 new homeowners have been created by government-backed schemes.

3,749 people have taken up the industry-led NewBuy scheme since its launch in March 2012.

During the first four months of the Help to Buy: Equity Loan scheme over 3,000 sales and 10,000 reservations have been made.

Right to Buy has seen more than 8,000 council tenants helped into home ownership and 10,633 people helped through the former FirstBuy scheme.

The Help to Buy: Mortgage Guarantee scheme will come into force in January, and over 20,000 new homes have been built specifically for shared ownership schemes since 2010.

Housing Minister Mark Prisk said: “The housing market is clearly moving again, with nearly 26,000 hard-working people helped to achieve their dreams of home ownership through the range of government-backed schemes on offer.

“That includes the industry-led NewBuy scheme, which today’s figures show has helped 3,749 people buy with a fraction of the deposit they would normally require, complemented by the Help to Buy: Equity Loan scheme which has already attracted over 10,000 reservations in just 4 months.

“And with the Help to Buy: Mortgage Guarantee coming into force from this January, I expect to see even more people benefit from the support we’re making available.”

What do you think of the schemes? Do you think they are stimulating the market in the right way?

General News

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