Autumn Statement 2015: Here's everything we know about London Help-to-Buy

 
James Nickerson
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Londoners with a five per cent deposit can get an interest free loan worth 40 per cent of the value (Source: Getty)

Chancellor George Osborne has announced London Help-to-Buy, aimed at helping people in the capital get a loan to help them buy a home.


Along with this, the chancellor said Help to Buy shared ownership will relax the rules around shared ownership, ensuring more people can take advantage of the scheme.

Read more: Osborne to double government housing budget

Here's what we know about the Help-to-Buy schemes:

  • Londoners with just a five per cent deposit will be able to get an interest-free loan worth up to 40 per cent of the value of a newly built home. People then need to get a mortgage of up to 55 per cent to cover the rest.
  • 135,00 Help to Buy shared ownership homes will be built.


The announcements come on the same day the chancellor said there will be a three per cent increase in stamp duty for buy-to-let properties and second homes, and revealed he would double the national housing budget.

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