Andrew Rosindell:
To ask the Secretary of State for Housing, Communities and Local Government,
what steps his Department is taking to improve the accessibility of the Help to
Buy scheme for lower-income citizens.
Kit Malthouse:
Help to Buy: Equity Loan has helped almost 159,000 households buy a new-build
home from its launch in spring 2013 until December 2017. The scheme enables
prospective homeowners to buy a home with a deposit of 5 per cent. 81 per cent
of sales have been to first-time buyers. The majority (59 per cent) of the
households using the scheme have had household incomes of £50,000 or less. For
people unable to afford to purchase a home fully, there is the option of shared
ownership, by which they can purchase 25 per cent to 75 per cent of a home,
with the option to buy further shares in their homes in minimum 10 per cent
instalments, and in most circumstances, up to full ownership.
http://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2018-07-23/167193
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