Cash scheme boost for 30-somethings
DESPITE initial concerns about the Government’s Help to Buy scheme for properties worth up to £600,000, the average loan is about £150,000, according to agents William H Brown.
Data from parent company Sequence shows the second phase is benefiting those who need it most – younger buyers struggling to raise larger deposits.
“Help to Buy has come under a lot of criticism because it is available on higher value properties but in reality it is mainly first-time buyers purchasing reasonably priced starter homes who are using the scheme,” says area director Jo Whincup.
“Our figures show buyers using the Help to Buy mortgage guarantee scheme are predominately in their early-30s.”