Help to Buy Scheme

Ministry of Housing, Communities and Local Government written question – answered on 6th February 2020.

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Photo of John Healey John Healey Shadow Secretary of State for Housing

To ask the Secretary of State for Housing, Communities and Local Government, how many and what proportion of Help to Buy, Equity Loan customers are in arrears, in each region of the UK.

Photo of Esther McVey Esther McVey Minister of State (Housing, Communities and Local Government)

At end November 2019 1,983 Help to Buy customers or 5.8 per cent of the total due to be paying interest fees, were in arrears. The large majority of customers in arrears are only one or two payments behind and this debt very largely reflects short-term administrative issues with direct debit set-up at the start of the interest fee paying period. Total interest fee arrears of £189,000 at end of November 2019 represent 2.7 per cent of total amounts charged to customer accounts.

The number of customer in arrears by region are: East Midlands – 221; East of England – 210; London – 103; North East – 174; North West – 352; South East – 270; South West – 182; West Midlands – 230; Yorkshire and the Humber – 241.

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