171 Crawley families get homes through help to buy schemes

More than 170 families in Crawley have bought homes through the Government’s help to buy schemes, according to new figures.

Tuesday, 5th March 2019, 3:52 pm
Updated Tuesday, 5th March 2019, 4:00 pm

Some 600,000 families in England have placed a foot on the housing ladder since 2010 through Help to Buy and Right to Buy schemes.

More than 98,000 bought their council home.

Crawley MP Henry Smith said: “This is good news for 171 families in Crawley who have been able to get the security of their own home through the Government’s Help to Buy schemes.

Henry Smith MP

“We want as many people as possible to get a foot on the housing ladder, that’s why stamp duty has been abolished for 95 per cent of first-time buyers. “Help to Buy has also been boosted and the Government have an ambitious plan to build 300,000 new homes a year by the mid-2020s.”

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Help to Buy has two main schemes.

One allows future first-time buyers to take out an Individual Savings Account (ISA) which pays out a government bonus of up to £3,000 towards the cost of a new home.

Another scheme, the equity loan, means buyers only need to raise 5 per cent of a property’s value for a deposit and the Government will stump up a loan of up to 20 per cent of the property’s value which is interest-free for five years.