Since the launch of the equity loan scheme six months ago the 15,000 reservations for the government loan have been made which is having a knock-on-effect on the supply of housing.
Housing Minister Kris Hopkins praised the response to this renewed confidence in the housing market and urged more builders to get on board to offer the scheme on their new homes.
Hopkins visited a housing development, owned by a small business company, in Yorkshire which had previously stalled but had got back on its feet after receiving a loan from the government’s Get Britain Building fund.
On site the minister met the contractors and workers that had been able to continue building homes as a result of the site being kick-started back into action by government funding.
Hopkins said: “It’s great to be in the North to see how the government’s work to boost house building is making a nationwide impact and giving confidence to this beautiful part of the country.
“The Help to Buy equity loan scheme is not just helping thousands of buyers onto the property ladder but is making an important contribution to people’s lives creating jobs, boosting local business and stimulating the economy.
“It is essential that places like Yorkshire are not just hanging on others’ coat tails but at the forefront helping to lead the charge from a local level.”
