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Posted: 14.01.14

6,000 applications for Help To Buy already

6,000 applications for Help To Buy already

David Cameron has announced that more than 6,000 applications for Help To Buy have been made since the launch of the scheme last October.

Help To Buy has been immediately popular with the public, with 2,000 applications coming in the first month and the rate of interest remaining not far off in the following months.

According to the latest statistics, 750 house purchases have been completed using Help To Buy assistance, with an average house price of £160,000 and a total of nearly £1 billion already borrowed.

“We introduced the Help to Buy scheme so that hard-working people with sufficient earnings can get on and enjoy the security of owning their own home,” reported the Prime Minister.

Help To Buy enables UK home buyers to borrow 20% of the price of the house, potentially allowing new owners to keep much-need capital to make home improvements such as replacing soffits or fascias.