Help-to-buy loans benefited more rich than poor households

Whitehall figures show over 5,500 households with annual income of £80,000 got loans

More rich households than poor ones are benefiting from a £25bn public subsidy that the former prime minister Theresa May claimed was “restoring the dream of home ownership for a new generation”.

More than 5,500 households with an annual income of over £80,000 have been given help-to-buy loans in the past year compared with 4,142 households earning less than £30,000, the government’s own figures have revealed. Well over 2,000 of the richest households who were awarded taxpayer-funded loans, allowing them to buy new-build houses with only a small deposit, had incomes in excess of £100,000.

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