NewBuy takes off with its strongest quarter so far

Government-backed housing scheme, NewBuy, has helped 3,749 people onto the housing ladder since its launch in March last year, according to new data from the Department for Communites and Local Government.

Related topics:  Mortgages
Amy Loddington
5th September 2013
Mortgages

Housing Minister Mark Prisk welcomed the latest data, which he said, “clearly show the housing market is moving again”.

Overall, the number of new homeowners created by government-backed schemes is over 25,000 to date – with more in the pipeline.

Already, the latest house building figures show there were 29,510 new homes started between April and June this year – a third higher than the same period in 2012.

Housing Minister Mark Prisk said:

"The housing market is clearly moving again, with nearly 26,000 hard-working people helped to achieve their dreams of home ownership through the range of government-backed schemes on offer.

"That includes the industry-led NewBuy scheme, which today’s figures show has helped 3,749 people buy with a fraction of the deposit they would normally require, complemented by the Help to Buy: Equity Loan scheme which has already attracted over 10,000 reservations in just 4 months.

"And with the Help to Buy: Mortgage Guarantee coming into force from this January, I expect to see even more people benefit from the support we’re making available."

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