The latest announcement from the government is that it is going to invest a further £10 billion into the Help to Buy Equity Loan scheme.
This additional funding could help around 135,000 more people make their property ownership dreams come true.
Current figures show that 81% of home purchases using the scheme has been made by first time buyers, this number has increased by 70% between 2010 and 2016.
The property industry has responded well to this news, as it is recognising that the scheme is playing a fundamental role within the property buying market. It is a great way to help first time buyers get on the property ladder.
It is also good news for developers and lenders as it means they will be able to plan longer term, and gives indication from the government of their intent to help secure thousands of people’s chances of home ownership.
For more information on how a Help to Buy Equity Loan can help you on your way to owning your dream home click here.