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This statistical release presents Official Statistics on the government’s Help to Buy: mortgage guarantee scheme. It presents statistics on the number of mortgage completions, types and values of properties, borrower incomes and breakdowns by various geographical areas. It is the first Official Statistics release concerning the Help to Buy: mortgage guarantee scheme and covers the period from its launch on 8 October 2013 to 31 March 2014.
in the first six months of the Help to Buy: mortgage guarantee 7,313 mortgages were completed with the support of the scheme
of these, 80% were purchases by first time buyers
the total value of mortgages supported by the scheme is £1 billion
compared to total mortgage completions in each region, the scheme is supporting a higher proportion of mortgages in the North West and the East, and a lower proportion in London and the South East
the mean value of a property purchased or remortgaged through the scheme is £151, 597, compared to a national average house price of £252,000
The data is provided by UK Asset Resolution (UKAR) who administer the scheme on behalf of the Treasury. In future the release will be published on a quarterly basis, around seven weeks after the end of the quarter to which it relates. The next release is scheduled to be published in August 2014.