Yorkshire reaps the benefits of Help to Buy
Fri, 28th November 2014

Yorkshire reaps the benefits of Help to Buy

A flagship government housing scheme has helped almost 6,300 householders across Yorkshire and the Humber buy a new home, new statistics have revealed.

The latest figures show that Help to Buy, which was introduced in April 2013, has helped almost 1,000 in Leeds alone, which is higher than any other UK city.

Almost 600 householders in neighbouring Bradford have also taken advantage, along with 526 in Wakefield, 511 in Hull, 400 in Sheffield, 294 in North East Lincs, 233 in North Lincs and 187 in York.

The scheme was introduced to support those who can afford a mortgage, but struggle to save the deposits required by lenders in the wake of the financial crisis.

Together with the government's NewBuy scheme – which offers 95 per cent mortgages for those buying new-build properties – the number of new home owners across the country has reached more than 71,000. In Yorkshire and the Humber more than 380 people have taken advantage of the NewBuy scheme

Prime Minister David Cameron said: "Today, Help to Buy has helped thousands of hard-working people buy a new home and enjoy the security and peace of mind that comes with that.

"And crucially, it's playing a major part in increasing the number of new homes being built around the country – creating jobs and investing in communities.

"This is all part of our long-term economic plan to secure a better future for Britain – and, together with cutting income tax, lowering council tax bills and freezing fuel duty, the government is backing those who work hard and get on find the financial security they deserve."

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category Yorkshire  |  source Insider Media