{"id":44212,"date":"2014-06-26T09:00:00","date_gmt":"2014-06-26T09:00:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=d12351a9d7cf55574276bc2b9cd6a0c5"},"modified":"2014-06-26T09:00:00","modified_gmt":"2014-06-26T09:00:00","slug":"press-release-help-to-buy-creates-35000-new-homeowners-and-gets-britain-building","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=44212","title":{"rendered":"Press release: Help to Buy creates 35,000 new homeowners and gets Britain building"},"content":{"rendered":"<div class=\"govspeak\">\n<p>Over 35,000 aspiring homeowners have been helped onto the property ladder through one of the government\u2019s <a href=\"https:\/\/www.gov.uk\/affordable-home-ownership-schemes\">Help to Buy schemes<\/a>, Kris Hopkins announced today (26 June 2014).<\/p>\n<p>The minister welcomed the key role this scheme is playing in the government\u2019s long-term economic plan, both helping people buy their own home but also boosting house building and creating jobs in construction.<\/p>\n<h2 id=\"a-help-onto-the-housing-ladder\">A help onto the housing ladder<\/h2>\n<p>New <a href=\"https:\/\/www.gov.uk\/government\/statistical-data-sets\/help-to-buy-equity-loan-scheme-monthly-statistics\">figures<\/a> today show that since the launch of Help to Buy 14 months ago, 22,831 people have bought newly-built homes through the Help to Buy: equity loan scheme.<\/p>\n<p>There have also been 7,313 sales through the Help to Buy: mortgage guarantee and 5,173 sales through the Help to Buy: NewBuy scheme. This takes total sales through Help to Buy to over 35,000.<\/p>\n<p>All sales through Help to Buy: equity loan \u2013 and three-quarters of overall sales through all elements of Help to Buy \u2013 are new-build properties.  <\/p>\n<p>Since the launch of the scheme, house building is up a third compared to last year and at its highest level since 2007, while 216,000 planning permissions were granted in the last 12 months.<\/p>\n<p>Recent estimates still show that Help to Buy accounts for just 3% of overall house sales <\/p>\n<h2 id=\"help-to-buy-across-the-country\">Help to Buy across the country<\/h2>\n<p>Nationally, 86% of Help to Buy: equity loan sales were to first-time buyers, while the average house price under the scheme was \u00a3206,084 \u2013 far lower than the \u00a3252,000 average house price. The vast majority of Help to Buy: equity loan sales \u2013 94% \u2013 are outside London.<\/p>\n<p>Overall, the highest numbers of Help to Buy sales are in:<\/p>\n<ul>\n<li>Leeds: 580 <\/li>\n<li>Wiltshire: 506 <\/li>\n<li>Central Bedfordshire: 458<\/li>\n<li>Milton Keynes: 417 <\/li>\n<li>Peterborough: 379 <\/li>\n<\/ul>\n<p>Housing Minister Kris Hopkins said:<\/p>\n<blockquote>\n<p>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\u2019t get the deposit together.<\/p>\n<p>Help to Buy is changing that \u2013 to date, this scheme has enabled 35,000 people buy their own place with a fraction of the deposit they would normally require.<\/p>\n<p class=\"last-child\">And with house building up a third over the past year, it\u2019s clearly having a wider impact, getting workers back on construction sites and building the homes communities want and need.<\/p>\n<\/blockquote>\n<h2 id=\"further-information\">Further information<\/h2>\n<p>The <a rel=\"external\" href=\"http:\/\/www.helptobuy.org.uk\/\">Help to Buy: equity loan scheme<\/a> enables people to buy a newly-built home with a deposit of at least 5% of the property price, while the government offers a loan of up to 20%. The rest is covered by a mortgage. This portion of the scheme has been extended up to March 2020 with a further \u00a36 billion \u2013 meaning the scheme will support the construction of up to 200,000 new homes.<\/p>\n<p>The mortgage guarantee offers mortgage lenders the option to purchase a guarantee on mortgages where a borrower has a deposit of between 5 and 20%. Because of this support, participating lenders are able to offer more mortgage products to borrowers with small deposits.<\/p>\n<div class=\"contact postal-address\" id=\"contact_40\">\n<div class=\"content\">\n<h3>Office address and general enquiries<\/h3>\n<div class=\"vcard contact-inner\">\n<p class=\"adr\">\n<span class=\"street-address\">Eland House<br \/>\n<br \/>\nBressenden Place<br \/>\n<br \/>\nLondon<\/span><br \/><span class=\"postal-code\">SW1E 5DU<\/span>\n<\/p>\n<div class=\"email-url-number\">\n<p class=\"contact_form_url\">\n              <span class=\"type\">Contact form<\/span><br \/>\n              <a href=\"http:\/\/forms.communities.gov.uk\/\">http:\/\/forms.communiti&#8230;<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">General enquiries:  please use this number if you are a member of the public<\/span><br \/>\n              030 3444 0000\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"contact\" id=\"contact_171\">\n<div class=\"content\">\n<h3>Media enquiries<\/h3>\n<div class=\"vcard contact-inner\">\n<div class=\"email-url-number\">\n<p class=\"email\">\n              <span class=\"type\">Email<\/span><br \/>\n              <a class=\"email\" href=\"mailto:communications-newsdesk@communities.gsi.gov.uk\">communications-newsdesk@communities.gsi.gov.uk<\/a>\n            <\/p>\n<p class=\"tel\">\n              <span class=\"type\">Please use this number if you&#8217;re a journalist wishing to speak to Press Office<\/span><br \/>\n              030 3444 1201\n            <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Help to Buy scheme has enabled 35,000 people to buy their own home.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/44212"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44212"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/44212\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}