Help to Buy aids Huntingdonshire home buyers

PUBLISHED: 13:00 17 March 2014

Help to Buy

Help to Buy

Archant

Huntingdonshire households have been given a leg up on the property ladder thanks to the Government’s Help to Buy scheme.

Last year 94 payouts, known as equity loans, were made in the district following the launch of the initiative in April.

Under the scheme, the Government lends up to 20 per cent of the value of the home, with buyers providing a cash deposit of five per cent, leaving a 75 per cent mortgage. There are no interest fees on the loan for the first five years.

In the second quarter of last year, there were just three loans in Huntingdonshire, totalling £125,589. But that figure increased to 33 in the third, amounting to £1,482,860.

The final three months of 2013 were the busiest for lending, with 58 deals and a total value of £2,376,294.

Among the East of England’s 48 local authorities, only Bedford, Central Bedfordshire, Colchester, Peterborough, South Cambs and South Norfolk had a higher total number of loans made than Huntingdonshire.

Nationally, more than 41,000 homes have been bought through Help to Buy.

Comments have been disabled on this article.

More news stories

10:03

A proposed master plan which aims to transform “under-invested” Ramsey into an economic hub has been backed by councillors in the town.

08:04

Coffee chain Starbucks has been unable to confirm whether it plans to move to new premises in Huntingdon, after its outlet in the town was closed earlier this month.

Yesterday, 15:00

Police have released CCTV of men they would like to speak to in connection with a violent disorder in Yaxley.

Yesterday, 13:51

Statistics showing the number of times police officers have had to use force in Cambridgeshire have been released.

Most read stories

Local business directory

Cambridgeshire's trusted business finder
HOT JOBS

Show Job Lists

Digital Edition

Image
Read the Hunts Post e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter