William Eichler 01 February 2016

London Help to Buy scheme opened

A new Government plan aimed at helping Londoners into home ownership was launched today.

Communities secretary Greg Clark announced that Londoners would be able to buy a home with a 5% deposit and a mortgage as low as 55% under the London Help to Buy scheme.

First-time buyers and second-steppers will get the opportunity to own a new home in the capital with a deposit backed by a 40% equity loan from the Government that is interest free for the first five years.

London Help to Buy is an extension of the Help to Buy scheme that has helped 130,000 people across the country since 2013.

Since 2010 the Government says it has helped more than 270,000 people into home ownership thanks to the introduction of government schemes including Right to Buy and Help to Buy.

Greg Clark said: ‘Our multi-billion pound investment will open the door to thousands of Londoners wanting to own their own home, following in the footsteps of nearly 270,000 people who have already bought through government-backed schemes.

‘And now with the improved Help to Buy scheme launching in London, I would urge anyone who thinks home ownership is out of reach to look again at the help on offer.’

Housing minister Brandon Lewis said: ‘[Help to Buy] is helping people turn those dreams into a reality, with a fraction of a deposit they would normally require, and from today the new London scheme will help even more people follow in their footsteps.’

SIGN UP
For your free daily news bulletin
Highways jobs

Cleaner and Caretaker

North Yorkshire Council
£12.65 - £13.47 per hour
Are you looking for a cleaning role that is a little different? Ripon, North Yorkshire
Recuriter: North Yorkshire Council

Cleaner and Caretaker

North Yorkshire Council
£12.65 - £13.47 per hour
Are you looking for a cleaning role that is a little different? Bradley, West Yorkshire
Recuriter: North Yorkshire Council

Specialist Customer Service Officer

Oxfordshire County Council
£31,537 - £34,434 per annum
Are you passionate about helping others and making a real impact in your community? We’re looking for Specialist Customer Service Officers to join our dynamic Contact Centre team, the first point of contact for a wide range of essential services acros Oxfordshire County Council , County Hall, Oxford
Recuriter: Oxfordshire County Council

Cook

North Yorkshire Council
£13.47 - £14.13 per hour
Are you keen to join a friendly team who are committed to making a real impact in their local community? Lancaster, Lancashire
Recuriter: North Yorkshire Council

Catering Assistant

North Yorkshire Council
£12.65 - £12.65 per hour
We have an opportunity to join our award-winning Facilities Management catering team. North Yorkshire
Recuriter: North Yorkshire Council
Linkedin Banner