I was very pleased to read that more than 400,000 people have been able to buy their first homes thanks to the government’s Help to Buy scheme.
A government report confirmed some 458,000 completions have taken place under the scheme. Of those 402,000 were first time buyers.
Help to Buy ISAs offer government bonuses of up to £3,000 to help first time buyers top up their savings. The statistics released show that first time buyers have taken advantage and opened up 1.2 million new accounts.
The report also found that 93% of completions across the Help to Buy schemes took place outside London with an average house rice of £201,881.
The National Association of Estate Agents (NAEA) website reported John Glen, Economic Secretary to the Treasury, as saying “We want to help as many people as possible experience the fantastic feeling of pride you get when you collect the keys to your first home. That’s why we offer the special Help to Buy: ISA for them to save, cut their Stamp Duty, and introduced a new Help to Buy Equity Loan to run until March 2023.”