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, what assessment he has made of the reasons why some people have redeemed their Help to Buy equity loans; and what estimate he has made of future redemption rates.

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

Of the 221,362 Help to Buy equity loans issued by 31 March 2019, 30,645 or 13.8 per cent had been redeemed by that date. Of the 30,645 full redemptions to 31 March 2019, 49.5 per cent (15,184) occurred via the sale of the home and 50.5 per cent (15,461) via customers remaining in their home and paying off their loan by re-mortgaging or with other funds.

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