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Revealed: England’s Help to Buy hotspots

The top Help to Buy hotspot in England is Wakefield in Yorkshire.

More people used the Government-backed equity loan scheme to buy a home there than anywhere else in the country.

The Government launched the various projects in 2013. Since then, home buyers have used equity loan element of the scheme to buy 2,732 homes in Wakefield.

Help to Buy equity loan popular

Online listings portal Zoopla has analysed the data from the various schemes to identify where equity loan is used most.

Wakefield is No.1 in the top five hotspots for Help to Buy equity loans. Wiltshire is next up, followed by County Durham, Central Bedfordshire and Tower Hamlets in London.

First-time buyers are the main target for the scheme. However, existing homeowners who want to move can access the equity loan scheme.

They need a 5 percent deposit and can then access a five-year interest-free equity loan from the Government.

Calculate affordability

Laura Howard is Zoopla’s consumer expert. She said: “It might be presumed that first-time buyers only use Help to Buy in markets with stretched affordability such as London. But our analysis shows that its popularity actually spans the entire country.”

Meanwhile, Zoopla has launched its own first-time buyer calculator that will allow newcomers to home ownership to figure out the maximum house price they can afford.