More than 7,000 homes sold under Help to Buy guarantee scheme
A total of 7,313 mortgages were completed during the first six months of the Help to Buy mortgage guarantee scheme since its launch in October.
Approximately 94% of the properties bought using the scheme are outside of London and the capital has also seen the fewest transactions through Help to Buy 2 with just 385 completions.
Jeremy Duncombe, Legal & General Mortgage Club director, said: “Despite calls for the scheme to be reined in, these figures show Help to Buy is aiding those who most need it. The majority of applications have come from outside London and from first-time buyers, in areas where the local housing markets have not rebounded as strongly as in the capital.
The vast majority of borrowers are first-time buyers and buying well below the national average at around £151,000.
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