81% of help to buy are first time buyers

Eighty-one per cent of purchasers buying a home with the government’s Help to Buy scheme are first-time buyers.

DCLG reported in Help to Buy statistics that over 220,000 people were able to buy a home using the Help to Buy schemes between April 2013 and 30 September 2016, with 180,000 of them being first-time buyers.Average house price across the scheme was £191,000.

Help to Buy schemes began in April 2013 and include: ISA, Shared Ownership, Mortgage Guarantee, Equity Loan and London Help to Buy. Help to Buy Equity Loan scheme allows buyers to access an equity loan of up to 20% (40% in London) of the value of a new build home, lowering overall mortgage costs.