More than 300 Kirklees families have been helped to buy a home through the Government’s mortgage guarantee scheme.

Since the Help To Buy mortgage guarantee and equity loan scheme was launched in April last year, 316 households have completed purchases using financial help through the scheme.

In Kirklees there were 214 mortgages guaranteed and 102 loans made.

The average price paid in the area was £119,038.

In Yorkshire and the Humber, 79% of purchases were by first-time buyers, and purchasers had an average household income of £42,942.

In the first year of the Help to Buy mortgage guarantee scheme, 30,269 mortgages were completed across Britain with the support of the scheme, which represents 3% of all residential mortgage completions in the UK over the same period.

Most households which completed a mortgage with the support of the scheme had a household income of £20,001 – £50,000.

Take-up is lower for those on higher incomes: households with an income over £80,000 made up 10% of all completions.

The median household income for borrowers using the scheme was £42,683 which is in line with the median household income across the market for those buying a house with a mortgage (£43,097).

The total value of mortgages supported by the scheme is £4.5 billion.

Compared to total mortgage completions in each region, the scheme is supporting a higher proportion of mortgages in the North West and the East, and a lower proportion in London and the South East.

The mean value of a property purchased or remortgaged through the scheme was £155,759, compared to a national average house price of £273,000.

The majority of mortgage completions through the scheme were on terraced houses, making up 38% of total completions.

The next most popular property type was semi-detached properties (35%), while completions for detached houses and flats were much lower, making up 10% and 14% respectively.

The Help to Buy: mortgage guarantee scheme is available across the United Kingdom.

Under the scheme the government offers lenders the option to purchase a guarantee on mortgage loans where the borrower has a deposit of between 5% and 20%.

The scheme can be used for mortgages on both new build and existing homes, by first time buyers, home movers and those remortgaging.