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Tue 15 Sep 2015

Help to Buy approaching 120,000 loans

Almost 120,000 people have now made use of the ongoing Help to Buy scheme.

The latest figures from the Department for Communities and Local Government have revealed the government's ongoing Help to Buy scheme is fast approaching another landmark.

Having only recently broken the 100,000 barrier for the amount of people that have made use of this initiative to purchase a property to date, the number of applicants is now such that the figure of approved Help to Buy loans has reached over 118,000.

Overall, 80 per cent of home purchases under the Help to Buy scheme have so far been first-time buyers, while 95 per cent of property completions have taken place outside of London.

Communities secretary Greg Clark commented: "Help to Buy has already meant that nearly 120,000 people have been able to buy a home with a fraction of the deposit they would normally require.

"On top of that, it's getting Britain building again, with private housebuilding up by more than a third since the launch of the scheme."

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