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Help to Buy equity loan completions top 19,000

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Almost 20,000 properties have been purchased using a Help to Buy equity loan in the year since the scheme’s launch, government figures have shown.
Help to Buy equity loan completions top 19,000

A total of 19,394 purchases were completed between the scheme’s launch on 1 April 2013 and 30 March 2014.

The total value of properties purchased using the scheme was £3.97bn, with the government’s equity loan contributions totalling £791m.

December proved to be the biggest month for the scheme with 3,407 transactions completed.

The average equity loan was £36,999 and purchased a house valued at £184,995. First-time buyers accounted for 87.5% of the transactions completed.

The NewBuy scheme, which helps buyers who have a deposit of at least 5 per cent to buy a new-build home, remains active and saw a further 177 purchases made in the first three months of 2014, bringing the total number of purchases made since its launch in March 2012 to 5,173.

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