Pendle is the only local authority in Lancashire where no one has bought a home through the government’s Help to Buy equity loan scheme, according to the latest Government figures.
Under the initiative, the Government lends up to 20% of the cost of new-build homes, so people only need a 5% cash deposit and a 75% mortgage to make up the rest.
A total of 383 homes have been sold in Lancashire in the first 11 months of the scheme with Chorley seeing the highest number of sales at 106.
South Ribble (50) was next highest, while Burnley had 26 sales and Ribble Valley 15.
Across the country, 28,000 households are buying newly built homes through the scheme, with 16,465 sales completed so far.
Housing Minister Kris Hopkins said: “Help to Buy was introduced for the benefit of the whole country, because this government is determined to ensure that anyone who works hard and wants to buy their own home should have the chance to do so.
“The scheme has proved itself a valuable alternative to the Bank of Mum and Dad.
“And since each home sold is new-build, the Equity Loan is also getting the country building again and creating exciting and rewarding career opportunities for local people.”
Article from Nelson Leader Friday 11th April