Crawley MP Henry Smith has welcomed new figures showing that Help to Buy, the Government scheme to help people access an affordable mortgage with a small deposit, has helped 22,136 families to buy their own home in the south east of England.
 
Henry said;
 
“Help to Buy means that people can get an affordable mortgage with only a 5 per cent deposit. It’s benefited people across the country, including here in Crawley, since its introduction under the Coalition Government.
 
“I’m well aware there is more to do – the scheme is part of the Government’s efforts to create a million new homeowners by 2020-21.”
 
Across the country, Help to Buy has now enabled nearly 150,000 families to buy a new home. 80 per cent of those being helped are first-time buyers, and 95 per cent of completions have been outside of London.
 
The housing budget has been doubled to £2 billion a year and Government-backed schemes are helping people into home ownership. The latest figures show that planning permissions are at an eight year high, with planning permissions for new homes rising six per cent on a year previously. 
 
Aspiring home owners also have a boost from the Help to Buy ISA which was launched in December 2015. The scheme provides first-time buyers with a bonus of up to £3,000 to help them save for a home of their own, and has already helped a quarter of a million first-time buyers.