Bill Wiggin MP welcomed the news 31 people in Herefordshire have managed to buy their own property thanks to the Help to Buy scheme.
Figures released this week show that by 31 May 2014 an astonishing 35,000 aspiring homeowners had been helped onto the property ladder.
Bill Wiggin MP for North Herefordshire said: “I am encouraged that 31 people in Herefordshire have taken advantage of this Government scheme and now own their own homes.
I would urge more people to take advantage of the scheme and take that first step onto the property ladder.
This scheme is playing a key role in the Government’s long-term economic plan, both helping people buy their own home and also boosting housebuilding and creating jobs in construction.
I would encourage anyone interested in joining the housing market to go to the following website where you can find out more about the scheme and if it can help you https://www.gov.uk/affordable-home-ownership-schemes/overview.”
Since the launch of Help to Buy 22,831 people have bought newly-built homes through the Help to Buy: Equity Loan scheme; there have been 7,313 sales through the Help to Buy: Mortgage Guarantee and 5,173 sales through the Help to Buy: NewBuy scheme.
Nationally, 86 per cent of Help to Buy: Equity Loan sales were to first-time buyers, while the average house price under the scheme was £206,084 – far lower than the £252,000 average house price. The vast majority of Help to Buy: Equity Loan sales – 94 per cent – are outside London.
Kris Hopkins MP, Housing Minister, said: “In 2010 we inherited a broken housing market, where hard-working people who could afford a mortgage were locked out of home ownership because they couldn’t get the deposit together.
Help to Buy is changing that – to date, this scheme has enabled 35,000 people buy their own place with a fraction of the deposit they would normally require.
And with housebuilding up a third since the launch of Help to Buy, it’s clearly having a wider impact, getting workers back on construction sites and building the homes communities want and need.”