08 Oct, 2018/ by Homeward Legal /First Time Buyer
New research has revealed the property hotspots for those using Help to Buy to purchase a home in England.
Fasthomes.org,, which offers families advice on moving, has analysed the data from the Government scheme to reveal where those using its finance have bought a home.
The highest number of Help to Buy purchases has been in London where, until March of this year, a total of 12,206 properties were bought using one of the Help to Buy schemes, including equity loan, ISA and shared ownership.
Greater Manchester had the next highest amount of Help to Buy purchases with 7.280, followed by the West Midlands on 7.074, West Yorkshire on 6,530, Cheshire on 6,391 and Essex on 5,915.
The fewest number of homes bought with Help to Buy are in Bristol (808), East Sussex (732), Herefordshire (309), Rutland (255) and the Isle of Wight (187).
In London, the borough of Barnet has seen the most purchases using Help to Buy, a total of 914 in the first five years of the funding project. Havering (785) and Greenwich (732) were the next highest.
Demonstrating how expensive property in the capital is, the three most expensive boroughs barely registered on the Help to Buy purchase list. Kensington and Chelsea and the City of London both sold just two properties using the scheme, while Westminster sold only 32.
Within Help to Buy, there are a number of funding options, including shared ownership, equity loan and ISA. The scheme has funding in place until 2020 at least.