Usage of the government’s Help to Buy equity loan scheme has surged and is now supporting over two-fifths of sales of new-build homes, underlining the market’s reliance on the scheme.
The scheme underpinned 49,264 residential property purchases in the year to June with the number of buyers using the loans, rising 15% in England and 34% in London, the Ministry of Housing, Communities and Local Government said.
In the three months to June, 14,867 equity loans where issued — equivalent to 42.3 per cent of the homes built in England in the same period, according to MHCLG figures.
