This data set contains Help to Buy: Equity Loan statistics at parliamentary constituency level.
The figures cover the launch of the scheme on 1 April 2013 until 31
Figures have been attributed to an individual constituency by reconciling data against the ONS Postcode Directory (May 2014) where possible. Figures for some constituencies may be subject to revision later in the year.
. For sales before 31 March 2014, properties are included under the local authority district to
which they were initially allocated. In some cases, this differs from latest information, which forms the basis of the first column of local
authority district figures. Figures for some local authorities may be subject to revisions later in the year. Although local authority
information is validated against other geographic data at the time of data entry, detailed reconciliation of the data, conducted twice a year,
may result in a small number of changes to these monthly releases, for example where a new development crosses a local authority boundary.
An equity loan is Government financial assistance given to eligible applicants to purchase an eligible home through a Government equity mortgage
secured on the home. The Government equity mortgage is ranked second in priority behind an owner’s main mortgage lender.
This scheme offers up to 20 per cent of the value as Government assistance to purchasers buying a new build home. The buyer must provide a cash deposit of
at least 5 per cent and a main mortgage lender must provide a loan of at least 75 per cent.
The Government assistance to buy is made through an
equity loan made by the Homes and Communities Agency (HCA) to the purchaser.
Help to Buy equity loans are only available on new build homes and the maximum purchase price is £600,000. Equity loan assistance for purchasers
is paid via house builders registered with the HCA to participate in the Help to Buy equity loan initiative. The payment is made to builders
(via solicitors) at purchaser legal completion.
The equity loan is provided without fees for the first five years of ownership.
The property title is held by the home owner who can therefore sell their home at any time and upon sale should provide the government the value
of the same equity share of the property when it is sold.
For further information see
Help to Buy (equity loan) scheme monthly statistics.