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Only 17 York families use homes scheme
8:43am Wednesday 11th September 2013 in News
ONLY 17 families in York have bought a new home through a Government support scheme, raising questions about whether it is working.
The mortgages have been arranged through the NewBuy initiative, which allows a deposit of five per cent on newly-built homes over a 15-month period.
The £130 million Help To Buy scheme will mean similar help is available to buyers of all homes from next year.
However, only 3,749 NewBuy mortgages have been signed across England, a fraction of the 100,000 promised by Prime Minister David Cameron when the scheme was launched. Latest figures, covering March 2012 to June this year, also showed none of these mortgage deals were arranged in the Harrogate postcode area.
Labour’s housing spokesman Jack Dromey said this showed home ownership “remained out of reach for many young families.”
Housing Minister Mark Prisk said: “The housing market is clearly moving again through the range of Government-backed schemes on offer.”
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