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Housing developers praised for Help to Buy response

Over 900 developers across the country have signed up with the Help to Buy scheme but the government is calling for more to get on board.

Housing Minister Kris Hopkins praised the response by housing developers to a renewed confidence in the housing market.

There have been over 15,000 reservations for new build homes since the launch of the Help to Buy scheme.

Of the over 900 builders planning to offer the Help to Buy equity loan scheme over 600 – over 80% – are smaller builders, building less than 40 homes.

Mr Hopkins believes the scheme is not just helping aspiring homeowners but also creating jobs and boosting local business.

On a visit to a housing development in Kirklees, Yorkshire, Mr Hopkins said: “It’s great to be in the North to see how the government’s work to boost house building is making a nationwide impact and giving confidence to this beautiful part of the country.

“The Help to Buy equity loan scheme is, not just helping thousands of buyers onto the property ladder but is making an important contribution to people’s lives creating jobs, boosting local business and stimulating the economy.

“It is essential that places like Yorkshire are not just hanging on others’ coat tails but at the forefront, helping to lead the charge from a local level.”

In addition to the Help to Buy scheme, housebuilding in Kirklees has been stimulated as a result of £6.9 million government investment which is set to deliver 362 new affordable homes.

David Curtis, Director for North East, Yorkshire and the Humber at the Homes and Communities Agency added: “We are really pleased with the progress of the Help to Buy equity loan scheme.

“It is proving to be a welcome addition to affordable home ownership options for purchasers across England, and is having an impact on supply.

“It is especially encouraging to see the number of smaller house builders who are participating in the initiative and helping to maximise the range of homes available though the scheme.”

If you need a solicitor for a house sale, purchase or mortgage transfer, call PM Law on 0114 2965444

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