New homeowners receiving govt aid
Up to 25,000 new homeowners across the UK have benefited from government-backed schemes to help them take their first steps on to the UK property ladder in the last year, new figures from the Department for Communities and Local Government (DCLG) have revealed.According to the DCLG, tens of thousands of Brits have signed up to initiatives either helping them with a reduction in the deposit required to purchase their first home or through schemes that have increased their purchasing rights - such as the highly successful Right to Buy.In total, more than 8,000 cases have been processed as part of Right to Buy to date, while FirstBuy - an initiative aimed at promoting first-time buyers on to the property ladder - has seen more than 10,000 happy participants.Housing minister Mark Prisk said: "The housing market is clearly moving again, with nearly 26,000 hard-working people helped to achieve their dreams of homeownership through the range of government-backed schemes on offer."That includes the industry-led NewBuy scheme ... complemented by the Help to Buy: Equity Loan scheme, which has already attracted over 10,000 reservations in just four months."He added the upcoming launch of the Help to Buy: Mortgage Guarantee in January next year will provide a further incentive and support for individuals keen to own their own home.Furthermore, an increase in the number of new homes being built up and down the country over recent months has further helped the situation for potential buyers, as greater choice in terms of the homes available in their area is going a long way towards tackling the ongoing housing crisis that has crippled many parts of the UK property sector in recent years.Overall, 29,510 new homes were built between April and June this year - a third more than during the same period in 2012.It all points to the UK property market moving in a positive direction, with growing activity for both builders and buyers.
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