Help to Buy aids Huntingdonshire home buyers

Help to Buy

Help to Buy - Credit: 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.


You may also want to watch:


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.

Most Read

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter