Over 1,000 homes sold through FirstBuy

The UK’s three biggest house builders have sold a total of 1,250 homes through the Government’s FirstBuy scheme in its first four months.

Persimmon, Taylor Wimpey and Barratt Homes have sold 600, 173 and 477 homes respectively through the scheme, which opened to buyers last September.

The Department of Communities & Local Government does not have a current figure for total sales to date.

The £250m scheme, which was announced in the Budget in March, is jointly funded by housebuilders and the Government and provides a low-interest loan of 20 per cent of the cost of the house. It is available to FTBs buying newbuild properties with a 5 per cent deposit and an income of less than £60,000.

London & Country associate director of communications David Hollingworth says: “As awareness grows, you would expect the take-up to improve. I have no expectation there will be any spare money left.”