Help to Buy aids Huntingdonshire home buyers

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.

0 comments

More news stories

The Rev Scott Watts with volunteers and staff at the service of remembrance

More than 50 balloons were released at Hinchingbrooke Hospital on Sunday during a service of remembrance.

St Ives Free Church, in Market Hill

More than £5,000 has now been raised in aid of the Save Our Spire appeal in St Ives.

Ram-raiders have struck twice in a week at businesses in Eaton Socon.

Shire Hall, in Cambridge.

Campaigners and councillors in Cambridgeshire are calling for the government to re-think its proposed changes to education funding, which could see many of the county’s schools lose out.

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