Over 17,000 properties have been bought using the government`s Help to Buy scheme, with 88 per cent of those going to first-time buyers.
The government`s own figures also show that the average price has come in at £195,000, with more than three-quarters (77 per cent) of the deals taking place outside of London and the South East, showing that the scheme has had a nationwide effect.
Of the completed deals, close to 15,000 were bought via the equity loan method, which allows purchasers to buy with just a five per cent deposit and up to 20 per cent loan coming from the government.
It`s recently been announced that this part of Help to Buy will be extended until March 2020 to help stimulate house buying.
The second method is the mortgage guarantee, which provides assurances to lenders that the government will make up any losses sustained from offering higher LTV mortgages to prospective homeowners.
Whether you use a Help to Buy channel or not you utilise, you may want a number of mortgages to choose from and need help in finding the most suitable one for you from that selection, that`s where First Choice Finance comes in.
Our mortgage advisers will look at our panel of lenders for a deal that matches your needs and any options will be presented to you on a no-obligation basis, the final choice is always yours.
Discover more at firstchoicefinance.co.uk or by calling on 0333 003 1505 or 0800 298 3000.
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