According to new data from the Mortgage Advice Bureau, the average price of a property bought under the Government’s Help to Buy mortgage guarantee scheme (the “Scheme”) was £153,447 in March, 34% lower than the average purchase price on the wider market. Data from www.moneyfacts.co.uk shows that, based on a 95% loan on the average Scheme price, the typical annual mortgage repayment would be £180 less than the average rent across England and Wales.

Brian Murphy, Head of Lending at the Mortgage Advice Bureau, comments that “our data shows that the [Scheme] has worked: it has got first-time buyers onto the housing ladder and it has saved them money compared to renting”.

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