COLCHESTER is one of the country’s most popular locations for the Government’s Help to Buy mortgage scheme, new figures reveal.
There have been 174 sales in the CO2 postcode area, which includes Berechurch, Old Heath and Shrub End, since Help to Buy launched last April.
The most popular version of the scheme allows buyers to get a mortgage with a 5 per cent deposit, with the remaining 20 per cent being guaranteed with a loan from the Government.
Nationally, more than 48,000 homes have been bought through the scheme, with 82 per cent of purchases coming from first-time buyers.
Prime Minister David Cameron said: “I’m delighted Help to Buy is doing exactly what it set out to achieve: helping thousands of people fulfil their dream of home ownership.
“I want to congratulate every single person, couple and family Colchester who has taken up Help to Buy and taken this great step in life. You’re proof that our long-term plan is building a brighter future.”
CO2 was the fifth most popular postcode area for the scheme.
The MK42 area in Bedford was top of the list with 215 sales.
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