Help to Buy Scheme

(asked on 26th May 2016) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Communities and Local Government, what plans his Department has to improve access to the Help to Buy scheme.


Answered by
Brandon Lewis Portrait
Brandon Lewis
This question was answered on 10th June 2016

Help to Buy covers a range of different schemes, offering home ownership options for a wide range of people. We are continuing to expand and improve access to Help to Buy, as shown by the development of London Help to Buy which offers equity loans of up to 40%, in recognition of affordability issues resulting from higher house prices in the capital.

On top of this, Help to Buy: Equity Loan enables people to buy a new-build home, with a deposit of as little as 5%; Help to Buy: ISA gives first-time buyers a 25% bonus on savings; and Help to Buy: Shared Ownership enables people to buy 25% to 75% of their home's value and pay rent on the rest.

The Department promotes Help to Buy through dedicated websites and other media, to ensure people are aware of all these options.

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