MORE than 700 homes across the Bradford district have been bought using the Government's flagship 'Help to Buy' housing scheme since 2013, new figures have revealed.
To the end of January this year, 720 households have used the scheme to buy a property within the district, nine per cent of a total of 8,202 households across Yorkshire and the Humber, and 88,420 nationwide.
The figure for Bradford is the second-highest in the county, behind Leeds, which has seen 1,293 homes bought under the scheme in the last 22 months.
Across the district, 449 households have received an equity loan, with 250 buyers supported via a mortgage guarantee.
A further 21 households have benefitted from the New Buy scheme, which offers 95 per cent mortgages for those buying new-build properties.
Kris Hopkins, Local Government Minister and Conservative MP for Keighley, visited a housing development in Heaton, Bradford, today where sales of more than a quarter of the 141 properties have involved the Help to Buy scheme.
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He spoke to the developers of Crest Park, Taylor Wimpey, and met Rag and Sonia Puri, who received a 20 per cent equity loan from the Government to help secure their first family home.
Mr Hopkins said: "Bradford needs housing, and has done for a while.
"The Help to Buy scheme has allowed companies like Taylor Wimpey to offer affordable opportunities, mainly for first-time buyers.
"The housing demand in Bradford is there, and it's about making sure there is sufficient provision.
"It's not just about housing though, it's about employment as well, and every house that is built equals full-time jobs.
"Help to Buy is about making sure there is a pipeline of jobs and a career for many people.
"The scheme has brought confidence to the construction sector. The concern was the scheme would come to an end, but it has now been extended to the end of the decade, which is a significant boost.
"If the scheme is as successful as it has been, the next five years will see a lot more houses being built, which in a place like Bradford with lots of young families who are first-time buyers, is really important."
Nationally, 80 per cent of Help to Buy completions, about 66,000, have been made by first-time buyers.
More than half have involved new-build homes, contributing to a 37 per cent rise in private house building since the scheme began.
"Help to Buy meant we were able to buy a bigger house than we would ordinarily have been able to," said Mr Puri.
"We are a small family, and it allowed us to get on the property ladder, which we might have struggled to do otherwise with the rising deposits and costs.
"The loan is interest-free for five years, and after that time our mortgage will be considerably lower than it would have been."
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