More than 500 mortgages have been completed through the government’s Help to Buy scheme in Liverpool since its launch in 2013 according to a new Treasury report.

The latest figures, which assess the strategy’s impact across the UK, put the total value of properties sold as result of Help to Buy in the city at over £65 million.

With the majority of completions outside London, the highest number of homes completed through both the Help to Buy ISA and mortgage guarantee schemes has been in the wider North West region.

In Liverpool, West Derby has seen the most Help to Buy mortgage completions with 132, closely followed by Walton on 127.

The total value of loans supported by the mortgage guarantee scheme in the city over the period from October 2013 to March 2016 totaled £62,697,364 with the value of properties sold reaching £66,381,416.

The Help to Buy mortgage guarantee scheme opened on 8 October 2013, 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 is aimed at first time buyers, home movers and those remortgaging and can be used for mortgages on both new build and existing homes.

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