Date of subsequent publication: It’s anticipated that December 2020 Assist to Purchase Fairness Mortgage statistics will probably be printed in Could 2021. The date will probably be pre-announced on the GOV.UK publication launch calendar

1. Headline statistics

Assist to Purchase: Fairness Mortgage completions will probably be affected by the coronavirus (COVID-19) pandemic and the federal government measures taken to scale back transmission of the virus.

In England, Assist to Purchase: Fairness Mortgage completions between April and June, the durations when the restrictions of motion have been most in impact, have been down by 61% towards the respective months in 2019. Nevertheless, completions within the three months to September 2020 have been up 11% in comparison with the identical interval in 2019.

2. Worth of fairness loans and properties

2.1 General figures from 1 April 2013 to 30 September 2020

Statistics for Assist to Purchase: Fairness Mortgage are based mostly on authorized completion dates for transactions beneath the scheme as operated in England and canopy the interval from the launch of the scheme on 1 April 2013 to 30 September 2020. Month-to-month and quarterly figures are additionally supplied and may be discovered within the Accompanying Tables.

Between April 2013 and 30 September 2020, 291,903 properties have been bought by means of Assist to Purchase: Fairness Mortgage, utilizing a complete worth of fairness loans of £17.4 billion. These fairness loans supported the acquisition of £79.2 billion price of property.

Between April 2013 and 30 September 2020, First Time Patrons accounted for 82 per cent of whole residence purchases. 240,083 properties have been purchased by First Time Patrons by means of Assist to Purchase: Fairness Mortgage utilizing a complete worth of fairness loans of £14.2 billion. The general worth of properties bought to First Time Patrons whole £63.1 billion.

2.2 Quarterly figures for Q3 2020

In Q3 2020 (01 July to 30 September 2020) there have been 13,211 properties bought by means of Assist to Purchase: Fairness Mortgage, utilizing a complete worth of fairness loans of £945 million. These fairness loans supported the acquisition of £4,123 million price of property. Of those 13,211 properties, 11,150 (84 per cent) have been purchased by First Time Patrons, utilizing a complete worth of fairness loans of £795 million to buy property price a complete of £3,386 million.

The entire variety of completions in Q3 2020 have been up by 127 per cent in comparison with the earlier quarter, whereas they have been up by 11 per cent in comparison with Q3 2019.

The quarterly breakdown of whole completions, fairness mortgage worth and buy worth can be found within the accompanying tables, Desk 1 and Desk 2.

2.3 Annual figures

For England, residence purchases accomplished beneath the Assist to Purchase: Fairness Mortgage scheme totalled 43,617 within the 12 months to 30 September 2020, down by 18 per cent in contrast with the 12 months to 30 September 2019 (52,924 completions). First Time Patrons purchased 35,893 properties beneath the Assist to Purchase: Fairness Mortgage scheme within the 12 months to 30 September 2020, down by 19 per cent in contrast with the 12 months to 30 September 2019 (44,279 completions).

The desk and graph under presents figures the 12 months ending 30 September 2014 to the 12 months ending 30 September 2020. Month-to-month breakdowns can be found within the accompanying tables

Whole variety of residence purchases, worth of fairness loans and whole buy value of properties accomplished beneath the Assist to Purchase: Fairness Mortgage scheme, for the 12 months ending 30 September 2014 to the 12 months ending 30 September 2020

Date Completions Whole Worth of Fairness Loans (£m) Whole Worth of Properties (£m)
12 months to 30 September 2014 28,179 1,200.53 6,030.43
12 months to 30 September 2015 29,366 1,322.69 6,654.82
12 months to 30 September 2016 36,824 1,893.24 9,201.92
12 months to 30 September 2017 44,546 2,741.87 12,271.91
12 months to 30 September 2018 50,400 3,281.94 14,594.37
12 months to 30 September 2019 52,924 3,654.73 15,826.70
12 months to 30 September 2020 43,617 3,083.93 13,447.26
Whole 291,903 17,413.25 79,203.08

Whole variety of residence purchases accomplished beneath the Assist to Purchase: Fairness Mortgage scheme, for the 12 months ending 30 September 2014 to the 12 months ending 30 September 2020, together with figures for first time consumers and purchases accomplished in London

The graph above reveals that the variety of properties purchased utilizing the Assist to Purchase: Fairness Mortgage regularly elevated from the 12 months ending September 2013 to the 12 months ending September 2019. There was a decline within the 12 months ending September 2020, which may be attributed in a big half to the restrictions launched in response to the COVID-19 pandemic.

2.4 Assist to Purchase in London

Because the launch of the Assist to Purchase: Fairness Mortgage scheme on 1 April 2013 to 30 September 2020, 26,973 properties have been purchased with an fairness mortgage in London.

Within the 12 months to 30 September 2020, 5,427 residence purchases have been accomplished beneath the Assist to Purchase: Fairness Mortgage in London, down by 16 per cent on the 12 months to 30 September 2019 (6,471 completions). In London, First Time Patrons purchased 5,112 properties beneath the Assist to Purchase: Fairness Mortgage scheme within the 12 months to 30 September 2020, down by 19 per cent on the 12 months to 30 September 2019 (6,294 completions).

In London, the utmost fairness mortgage was elevated from 20% to 40% in February 2016, since then to 30 September 2020 there have been 22,746 completions in London. Of those, 20,126 have been made with an fairness mortgage larger than 20% and 17,706 have been made with an fairness mortgage of precisely 40% of the acquisition value, exhibiting that almost all residence purchases accomplished in London beneath the scheme used the total 40% fairness mortgage obtainable to them.

3. Property buy value

The Assist to Purchase: Fairness Mortgage scheme can be utilized to buy a brand new construct property as much as the worth of £600,000, with a most fairness mortgage of £120,000 (20 per cent). In Better London, the utmost fairness mortgage is £240,000 (40 per cent).

The desk under reveals the variety of houses bought beneath Assist to Purchase: Fairness Mortgage to 30 September 2020 by buy value. 33 per cent of Assist to Purchase: Fairness Mortgage completions have been for houses price £200,000 or much less. About 46 per cent of properties acquired by means of the scheme had a purchase order value ranging between £200,001- £350,000 and 21 per cent had a purchase order value larger than £350,000. General, 52 per cent of the houses bought to 30 September 2020 had a value of £250,000 or much less.

The value of properties acquired by First Time Patrons (FTBs) by means of Assist to Purchase: Fairness Mortgage follows the same sample, with 56 per cent of properties having a worth on the level of sale of £250,000 or much less.

Property Buy Worth Completions (FTBs) Proportion (FTBs) Completions (whole) Proportion (whole)
£0-125,000 12,562 5% 13,112 4%
£125,001 – 150,000 19,478 8% 20,762 7%
£150,001-200,000 55,316 23% 61,687 21%
£200,001-250,000 47,341 20% 56,559 19%
£250,001-350,000 59,491 25% 77,557 27%
£350,000-500,000 34,492 14% 47,606 16%
£500,001-600,000 11,403 5% 14,620 5%
Whole 240,083 100% 291,903 100%

The graph under reveals the change in median buy value for first time consumers, non first time consumers and all purchases made with a Assist to Purchase: Fairness Mortgage. All of this knowledge may be present in Desk 4, 4a and 4b within the tables accompanying this launch.

The graph reveals that each one buy costs have been steadily getting larger for the reason that begin of the scheme in 2013, the acquisition costs of properties purchased by non first time consumers has frequently been above that of first time consumers.

Common buy value of property bought beneath the Assist to Purchase: Fairness Mortgage scheme, by calendar 12 months, England.

The graph above is predicated on calendar years, subsequently 2013 and 2020 signify solely 9 months (April to December and January to September respectively)

Extra info on the acquisition value of properties purchased with the assistance of a Assist to Purchase Fairness Mortgage is accessible in Tables 4, 4a and 4b accompanying this launch

4. Kind of property

The desk under reveals the variety of properties bought beneath Assist to Purchase: Fairness Mortgage scheme by property sort. Assist to Purchase has primarily supported the acquisition of homes. As much as 30 September 2020, 18 per cent of all transactions have been for residences and 82 per cent have been for homes, break up amongst indifferent, semi-detached and terraced homes, and two bungalows. Proportionally, First Time Patrons bought extra flats, terraced and semi-detached properties, however fewer indifferent homes than current house owners.

Property Kind Completions (FTBs) Proportion (FTBs) Completions (whole) Proportion (whole)
Flat 50,192 21% 52,546 18%
Indifferent 61,190 25% 90,953 31%
Semi-detached 80,839 34% 93,817 32%
Terraced 47,835 20% 54,557 19%
Bungalow 2 0% 2 0%
Unrecorded 25 0% 28 0%
Whole 240,083 100% 291,903 100%

5. Purchaser deposits

Greater than a half (55 per cent) of all residence purchases have been made with a deposit as much as 5% of the property buy value on the level of sale and 23 per cent with a deposit ranging between 5% and 10%. The remaining 22 per cent have been made by purchasers who paid a deposit of 10% of the property worth or extra.

As anticipated, a larger proportion of First Time Patrons (59 per cent) put down a deposit of 5% per cent or much less of the property buy value, in contrast with current home-owners (37 per cent). There was additionally a distinction between the proportion of First Time Patrons (10 per cent) and non-First Time Patrons (29 per cent) that used a deposit of greater than 15%.

6. Applicant family incomes

The family revenue of purchasers of properties beneath the Assist to Purchase: Fairness Mortgage scheme is recorded for every completion within the scheme. ‘Whole applicant family revenue’ reported under refers back to the whole revenue for the family, no matter what number of members of that family are making the acquisition.

Whole Applicant Family Revenue Completions (FTBs) Proportion (FTBs) Completions (whole) Proportion (whole)
£0 – £20,000 3,999 2% 4,401 2%
£20,001 – £30,000 28,022 12% 30,851 11%
£30,001 – £40,000 48,857 20% 55,710 19%
£40,001 – £50,000 52,641 22% 63,013 22%
£50,001 – £60,000 38,919 16% 49,100 17%
£60,001 – £80,000 40,322 17% 53,566 18%
£80,001 – £100,000 15,983 7% 21,143 7%
Better than £100,000 11,340 5% 14,119 5%
Whole 240,083 100% 291,903 100%

To September 2020, 51 per cent of the Assist to Purchase: Fairness Mortgage debtors had family incomes between £20,000 and £50,000. Solely 2 and 5 per cent of candidates had family incomes under £20,000 and above £100,000 respectively. The vast majority of First Time Patrons (54 per cent) utilizing Assist to Purchase: Fairness Mortgage to buy a property had family incomes ranging between £20,000 and £50,000.

The graph under reveals the same sample to the graph above relating to buy value of properties. The median whole applicant family revenue (the mixed revenue of candidates utilizing a Assist to Purchase: Fairness Mortgage) has regularly elevated since 2013 with first time consumers sometimes having a decrease family revenue in comparison with non first time consumers.

Median whole applicant family revenue beneath the Assist to Purchase: Fairness Mortgage scheme, by calendar 12 months, England

The graph above is predicated on calendar years, subsequently 2013 and 2020 signify solely 9 months (April to December and January to September respectively)

The information for this graph may be present in Launch Desk 8 within the tables which accompany this launch.

7. Accompanying tables

Accompanying tables can be found to obtain alongside this launch:

Desk 1: Quantity and worth of Assist to Purchase: Fairness Loans (quarterly), by native authority, England

Desk 1b: Quantity and worth of Assist to Purchase: Fairness Loans (quarterly) for first time consumers, by native authority, England

Desk 2: Quantity and worth of Assist to Purchase: Fairness Loans (month-to-month), England

The statistical launch Tables 1-9b are additionally obtainable to obtain from the hyperlink above.

As well as, legacy Assist to Purchase: NewBuy tables are additionally obtainable on the hyperlink above.
These tables haven’t been up to date. For extra info please see the Assist to Purchase: NewBuy textual content within the definitions and consumer engagement sections.

Desk 3: Cumulative variety of Assist to Purchase: NewBuy completions (since March 2012) by native authority, England

Desk 10: Variety of authorized completions, Authorities legal responsibility (£m), and value to Authorities (£m) beneath the Assist to Purchase: NewBuy Assure scheme, England

8. Technical notes

Please see the accompanying technical notes doc for additional particulars.

9. Enquiries

Media enquiries:
Workplace hours: 0303 444 1209

Electronic mail: [email protected]

Public enquiries and Accountable Statistician:
Niall McSharry

Electronic mail: [email protected]

Info on Official Statistics is accessible by way of the UK Statistics Authority web site.

Details about statistics at MHCLG is accessible by way of the Division’s web site.

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