Why do 60 per cent of English postcodes have zero help to buy homes?

Two years after the launch of George Osborne’s flagship Help to Buy scheme, more than half of all English postcode are yet to see a single mortgage completion under Help to Buy.
A brand new interactive map, compiled by TotallyMoney.com (using the latest statistics from HM Treasury), has revealed that Help to Buy is yet to reach 60% of postcode areas in England. These Help to Buy “blackspots” demonstrate a lack of access to the first time house buying scheme in more than half the country.
But it’s not all doom and gloom. In some regions, Help to Buy is having an impact:
  • 892 completions were recorded in Leicester, making the city England’s top Help to Buy town.
  • 309 completions  were recorded in MK42, in Bedford, making the area England’s top Help to Buy postcode.
  • 52,691 Help to Buy homes have seen mortgage completions in England (as of February 28th, 2015) since the scheme was launched.
While areas like Bedford and Leicester see more buyers getting onto the property ladder, elsewhere the picture is less encouraging. In more desirable or affluent areas, Help to Buy is barely making a dent. NW1, for example, is yet to see its first Help to Buy completion. 
Overall 1,261 out of 2,117 Postcode Districts in England are still Help to Buy blackspots, with zero mortgage completions, 2 years after the scheme’s launch.
Are you living in a Help to Buy ”blackspot”? TotallyMoney.com’s interactive tool lets you explore the state of the scheme in your area, and further afield. Search for specific postcodes to learn more about Help to Buy in any area of the UK and to get the latest figures for:
  • Equity loan completions
  • Mortgage guarantee completions
  • Average property prices
  • Help to Buy property availability

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