The North responsible for 18 per cent of Help to Buy deals


The government's flagship Help to Buy scheme is most valued outside the property hotspots of London and the South East.
Despite continued calls for the government to scale back Help to Buy in the capital, there have been no such requests in the North, where it's being hailed as a way for buyers without huge deposits to get on the property ladder.
Official figures show that some 7,313 loans have now been put forward as a result of the scheme, which are valued at a total of £1 billion. Of these, some 18 per cent were taken out in the North of England, compared to five per cent in London and 14 per cent in the South East, reports.
Four in every five deals agreed were to first time buyers, which supporters of the scheme have claimed allays fears that the system could be exploited by rich homeowners looking to boost their assets at the expense of social or private tenants.
Specifically, it was found that 38 per cent of loans were offered to terraced houses, with semi-detached properties taking a 36 per cent share and flats accounting for 12 per cent.
Offering his renewed support for the scheme, Prime Minister David Cameron told "Help to Buy has helped thousands of hardworking people to buy a new home and crucially it is helping to increase the number of new homes being built around the country.
"It is an important part of our long term plan to back those who want to get on and to secure a better future for Britain."