Buyers haven’t heard of Help to Buy

Out of 1,000 people surveyed across the UK 22% hadn’t heard of the Help to Buy scheme, while just 3% said they were ‘fully aware of Help to Buy’s benefits and have used or knew someone that has used the scheme’.

Over half (52 %) at least responded that they were ‘aware that it was helping first-time buyers onto the property ladder’.

The figures differed regionally, as a quarter (25%) of homeowners and current buyers in the North East said they ‘hadn’t even heard of Help to Buy’ compared to just 7% in Yorkshire and 6% in the West Midlands.

In the South West and Yorkshire 28% and 26% admitted to ‘hearing about the scheme but not realising what it was’.

This is despite recent research from Aldermore finding that nearly two-thirds (63%) of applicants live in the North West, North East, Yorkshire and the South West.

Chris Marshall, sales and marketing director at Bishop’s Move, said: “Help to Buy has certainly been making the headlines for some time there are yet pockets of home owners and property buyers across the UK that remain completely unaware of the scheme.

“In areas such as the North East, where the property market is somewhat stagnate, it is a worrying statistic that over a quarter of those surveyed haven’t even heard of Help to Buy.

“In order to improve local economies through the housing market, more needs to be done from a regional perspective to ensure people are fully aware of the many benefits Help to Buy can bring.”