Over 2,000 homebuyers in Kent have used the government’s Help to Buy scheme since it was launched three years ago, new figures have revealed.
Within the county, homebuyers in Tonbridge & Malling district were the second most likely to take advantage of the programme, with 357 buying a stake in their homes through it, after Dartford (542). In contrast, only 31 purchases were made using the scheme in Tunbridge Wells. The figures relate to the three years ending in March.
A total of 2,024 households in Kent utilised Help to Buy – which allows any homebuyer to secure a brand new home under the value of £600,000 with just a five per cent deposit – three quarters of whom are first-time buyers.
When the buyers put up their five per cent deposit, the government can lend them 20 per cent of the value of the property in the form of an interest-free equity loan for five years.