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More than 17,000 purchase home under Help to Buy scheme

More than 17,000 people bought homes under the government's Help to Buy scheme in its first nine months, figures have revealed.

23 March 2014
mortgages Home houses

They also showed that 88% of the 17,395 were first-time buyers.

Prime Minister David Cameron said the scheme, which is made up of two parts, was a key strand of the government's long-term economic plan.

But Labour has warned that rising demand must be met with increased housing supply for people to afford it.

According to the government's own figures, 77% of homes bought under the scheme as a whole were outside London and the South East.

And the average value of a property bought through the initiative was £194,992.

There are two parts to the Help to Buy scheme - the equity loan and the mortgage guarantee.

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