Almost 13,000 homebuyers took out interest-free Help to Buy loans in the first nine months that the scheme has been running, figures show. The equity loan deal, which went live in April, allows first-time buyers and movers to borrow up 20% of the purchase price of a new-build property as long as they can afford a deposit of at least 5%. No interest is paid for the first five years, and it can be paid back on the sale of the property. The communities and local government department said that by December 12,875 properties had been bought through the scheme and a further 6,446 sales were in the pipeline. Hilary Osborne .
Most Popular Stories
- Ukraine Crisis Limits Losses in Gold, Silver
- Chiquita, Fyffes to Form Top Banana
- Can GOP Dodge Immigration Bullet?
- Big Earthquake Rumbles Northern California
- China's Money Rate Drops on Slowdown Concern
- Software Writers Sought in Indiana
- Mt. Gox Files for Bankruptcy in U.S.
- Photo ID Required for Unemployment Benefits
- '300' Sequel Conquers Box Office Foes
- Sbarro Files for Bankruptcy Again