Two years after George Osborne launched Help to Buy in April 2013, a brand new interactive map from TotallyMoney.com, using housing market data from the HM Treasury, reveals that close to half of all postcode districts in England (1,261 out of 2,117 total) are yet to see any mortgage completions under the Help to Buy scheme – despite there being in excess of 400,000 eligible homes currently available across the UK.
The map highlights all mortgage completions across the UK that were as a result of either the Help to Buy 1 (Equity Loan) or Help to Buy 2 (Mortgage Guarantee) scheme, revealing 1,261 ‘black spots’, where no Help to Buy properties are available or where the scheme simply hasn’t been taken up.
Key findings include:
Created to mark the two-year anniversary of Help to Buy, the map draws data from both phases of the scheme, recorded since its inception. The TotallyMoney.com resource offers a breakdown to demonstrate uptake of both the equity loan and mortgage guarantee options across the UK. Here’s how the two schemes work:
Created by credit comparison experts TotallyMoney.com, the new interactive heatmap suggests that Help to Buy’s grand ambitions are yet to be fully realised across the UK. The map also functions as a valuable resource for first-time buyers searching for regions where the schemes are readily available.
Search for specific postcodes to learn more about Help to Buy in any area of the UK and to see the latest facts and figures on:
TotallyMoney.com Help to Buy Map - http://www.totallymoney.com/help-to-buy-map/
Postcode Districts - http://www.afd.co.uk/news/datanews.asp
Equity Loan Completions (1 April 13 to 28 February15 – Latest Data Available) - http://opendatacommunities.org/data/housing-market/help-to-buy/num-loans/loan-type-postcode-dis
Mortgage Guarantee Completions (8 October 13 to 30 June 14 – Latest Data Available) http://opendatacommunities.org/data/housing-market/help-to-buy/num-loans/mortagegaurantees/completed-loans-postcode-dis
Median Property Prices & Number of Properties Available under £500,000 (As of 21 Feb 15) – http://www.home.co.uk
Notes to editors
TotallyMoney.com, launched in 2007, is the UK’s leading credit-focused comparison website which sets out to make it simpler for consumers to compare credit cards, loans and mortgages. With a revolutionary approach to credit comparison, TotallyMoney.com uses exceptional comparison tools to empower people to make better financial choices.