Many of the new homes in Cranbrook are bought using this scheme.
“Almost all new homes in some parts of the country are funded by the Help to Buy equity loan scheme, raising fears about a house price slump when the programme ends.
The Government lends buyers up to 20pc of the cost of a new-build house, meaning the would-be homeowner only needs a 5pc deposit and a 75pc mortgage. In London users of the scheme can borrow up to 40pc of a home’s value.
More than 97pc of new homes in Northampton were funded by Help to Buy last year, according to modular housebuilder Project Etopia. In Burnley the figure was 93.1pc, in Derby 92.4pc and in Warrington 91.4pc. …”
Research has shown it adds on average £33,000 to the cost of a new home: