ALMOST 20,000 home buyers have purchased properties in the first year that the government's Help to Buy equity loan scheme has been up and running, official figures show. Some 19,394 sales were completed in the 12 months to March 31 under the equity loan scheme, with the highest numbers of sales taking place in Leeds, with 337, Wiltshire, with 316 and Central Bedfordshire, with 287.
Someone taking out a loan under the scheme can get a loan from the Government for up to 20 per cent of the property price. With the borrower also putting at least 5 per cent in, they would need a mortgage of up to 75 per cent to cover the remainder.
The Government said the average price of a property bought under the scheme so far is £184,995, and the average equity loan is £36,999.