According to the latest Help to Buy statistics, over 220,000 people have taken advantage of the scheme and have been able to buy a home using the Government’s Help to Buy products.
Over 220,000 completions have taken place under the schemes, which include ISA, Shared Ownership, Mortgage Guarantee, Equity Loan and London Help to Buy.
More than 100,000 completions have now taken place through the Help to Buy Equity Loan scheme.
Since the launch of the Help to Buy: ISA in December 2015, 27,222 property completions have been supported by the scheme. The highest proportion of property completions with the support of the ISA are in the North West, Yorkshire and the Humber and South West.
The London Help to Buy scheme helped 1,500 buyers with their property purchase between February-September 2016, across 29 London boroughs.
In total, over 180,000 first time buyer households are now on the housing ladder after using a Help to Buy Scheme, with the average house price across the schemes standing at £191,000.
The Mortgage Guarantee Scheme ended on 31 December 2016, although a wide range of lenders have pledged to continue offering 95% mortgage products.
Philip Hammond, The Chancellor of the Exchequer, said: "Our Help to Buy schemes are helping hundreds of thousands of people, especially first time buyers, achieve home ownership. We are continuing the popular Equity Loan and ISA schemes to ensure people can access support when buying or saving for a property. We are determined to help make home ownership a reality for hard working people."
Gavin Barwell, Housing and Planning Minister, added: "As these figures show, this Government is supporting thousands of first time buyers, helping them to get their first step onto the housing ladder.
I am delighted to see that the Help to Buy: Equity Loan scheme, in particular, continues to be hugely successful and has now helped 100,000 households to own their own home."
