You are here: Home - Mortgages - First Time Buyer - News -

The UK’s Help to Buy hotspots revealed

Written by: Christina Hoghton
Central Bedfordshire is the top area in the UK to purchase a property through Help to Buy schemes, according to research from TotallyMoney.

The price comparison site said the Eastern district has a high level of equity loans, as well as 245 properties successfully bought using a Help to Buy ISA.

In second place was the Lancashire market town Chorley, with a low average property cost (£182,818) making entering the property ladder through Help to Buy schemes more achievable. The district also boasts the lowest average minimum deposit from the top five districts (£9,141) and relatively high number of equity loans given out by the government, making property ownership more achievable for residents.

In third place was Cheshire West and Cheshire, which scored particularly highly in terms of the number of Help to Buy ISA property completions, where it came out top in the whole of the UK, with 495 residents purchasing homes utilising this scheme.

Top city locations

Of the UK’s cities, Wakefield was the number one Help to Buy hotspot, beating larger cities such as Hull and Salford into second and third position.

Located in a prime spot between Leeds and York, Wakefield has one of the highest levels of Help to Buy ISA property completions, helping 610 residents purchase new homes between December 2015 and March 2017.

Joe Gardiner, head of brand and communications at TotallyMoney, said: “Today, entering the property ladder is increasingly being seen as a pipedream for many young people. But with the introduction of government Help to Buy schemes, this dream can become a realistic option.

“For those thinking of utilising these schemes, knowing where in the UK is the most Help to Buy friendly, and whether your local area is one of these hotspots, is of particular importance to allow buyers to make a responsible financial decision. ”

Through the government’s Help to Buy scheme, buyers can receive an equity loan of up to 20% (or 40% in London boroughs) of the house’s total value, making it possible to purchase a home with just a 5% deposit.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape for summer, and moving your cash savings to a higher paying deal is ...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
HMRC accused of ‘taxing first and asking questions later’

HM Revenue & Customs has been accused of ‘taxing first and asking questions later’, as figures show Britons overpay almost...