Help to Buy used in just over 1% of mortgages

30th May 2014

Official figures show that the Government's Help to Buy mortgage guarantee scheme has supported 7,313 home loans worth a total of £1bn since it launched in October, accounting for just 1.3% of all mortgages issued.

The figures released by the Treasury show the mean value of a property purchased or remortgaged through the scheme was £151,597 and that 80% of the supported loans were given to first-time buyers. It is also claimed that a larger proportion of the market was being helped outside London and the south-east.

Source:   Financial Times (30/05/2014)