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11/11/2013
Over 2,000 People Use 'Help To Buy' Scheme
More than 2,000 people have put in offers on homes under the Help to Buy scheme, totalling £365 million of new mortgage lending.
The applications are backed by a 'decision in principle' by RBS and Lloyds, the first two participating banks, for 95 per cent mortgages. Ten of the 2,384 applications have already completed.
The figures demonstrate that government-backed Help to Buy scheme is supporting responsible lending. On average households have asked to borrow around £155,000 for houses worth about £163,000, which is below the UK average price of £247,000.
More than three quarters of the applicants are first-time buyers and many in their early thirties, demonstrating that Help to Buy is helping hardworking people realise their home-owning aspirations.
The Prime Minister said: "Four weeks in and it's clear that Help to Buy is already delivering. In just one month, over 2,000 people have been accepted for a Help to Buy mortgage. Or put another way, 75 families every single day have been put on the path to owning their dream home.
"But the best thing about Help to Buy isn’t the statistics - it’s who is really benefiting. Most Help to Buy applicants are first-time buyers, young and have a roughly average household income. This is all about helping hardworking people get on the first rung of the property ladder - and helping them get on in life.
"Owning a home is about more than 4 walls to sleep at night. It's about independence, self-reliance, moving on and moving up. Above all, it’s about aspiration. Help to Buy is helping people realise the dream of home ownership - and it's a key part of my plan for Britain."
(CD/IT)
The applications are backed by a 'decision in principle' by RBS and Lloyds, the first two participating banks, for 95 per cent mortgages. Ten of the 2,384 applications have already completed.
The figures demonstrate that government-backed Help to Buy scheme is supporting responsible lending. On average households have asked to borrow around £155,000 for houses worth about £163,000, which is below the UK average price of £247,000.
More than three quarters of the applicants are first-time buyers and many in their early thirties, demonstrating that Help to Buy is helping hardworking people realise their home-owning aspirations.
The Prime Minister said: "Four weeks in and it's clear that Help to Buy is already delivering. In just one month, over 2,000 people have been accepted for a Help to Buy mortgage. Or put another way, 75 families every single day have been put on the path to owning their dream home.
"But the best thing about Help to Buy isn’t the statistics - it’s who is really benefiting. Most Help to Buy applicants are first-time buyers, young and have a roughly average household income. This is all about helping hardworking people get on the first rung of the property ladder - and helping them get on in life.
"Owning a home is about more than 4 walls to sleep at night. It's about independence, self-reliance, moving on and moving up. Above all, it’s about aspiration. Help to Buy is helping people realise the dream of home ownership - and it's a key part of my plan for Britain."
(CD/IT)
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29 May 2014
Over 27,000 Buy New Home Using Help To Buy Scheme
New data shows that more than 27,000 people across the country have bought a new home through the Help to Buy scheme. New stats show how the Help to Buy is opening up home ownership to thousands and supporting the government’s long term plan to help hardworking people secure a better future for their families.
Over 27,000 Buy New Home Using Help To Buy Scheme
New data shows that more than 27,000 people across the country have bought a new home through the Help to Buy scheme. New stats show how the Help to Buy is opening up home ownership to thousands and supporting the government’s long term plan to help hardworking people secure a better future for their families.
16 January 2009
New Mortgage Rescue Scheme Will Save Thousands From Repossession
A new mortgage rescue scheme which will help thousands of vulnerable people from losing their homes and avoid the nightmare of repossession will be officially launched today. Under the nationwide scheme not-for-profit housing associations will buy homes from people struggling to pay their mortgage at an independently assessed market price.
New Mortgage Rescue Scheme Will Save Thousands From Repossession
A new mortgage rescue scheme which will help thousands of vulnerable people from losing their homes and avoid the nightmare of repossession will be officially launched today. Under the nationwide scheme not-for-profit housing associations will buy homes from people struggling to pay their mortgage at an independently assessed market price.
02 September 2015
Scottish Govt Confirms New Help-To-Buy Scheme
The Scottish Government has confirmed it will invest £195m over the next three years on a new shared equity scheme. The project will help some 6,500 households to purchase a new-build home.
Scottish Govt Confirms New Help-To-Buy Scheme
The Scottish Government has confirmed it will invest £195m over the next three years on a new shared equity scheme. The project will help some 6,500 households to purchase a new-build home.
27 September 2013
BoE Asked To Review 'Help To Buy' Scheme Earlier
The Bank of England has been asked to undertake a bigger role in Chancellor George Osborne's 'Help to Buy' housing scheme, with their Financial Policy Committee (FPC) committed to carrying out an annual review, beginning next September. This is a change to an original proposal, which would have seen the FPC assess the scheme after three years.
BoE Asked To Review 'Help To Buy' Scheme Earlier
The Bank of England has been asked to undertake a bigger role in Chancellor George Osborne's 'Help to Buy' housing scheme, with their Financial Policy Committee (FPC) committed to carrying out an annual review, beginning next September. This is a change to an original proposal, which would have seen the FPC assess the scheme after three years.
23 July 2013
Second Home Buyers Excluded From Help To Buy Scheme
The second stage of the Help to Buy scheme will be closed to second home buyers, George Osbourne has said. The Help to Buy scheme was launched four months ago to provide equity loans to people to help buy new homes. The second stage of the scheme is due to begin next January, with buyers needing just a 5% deposit to buy a home.
Second Home Buyers Excluded From Help To Buy Scheme
The second stage of the Help to Buy scheme will be closed to second home buyers, George Osbourne has said. The Help to Buy scheme was launched four months ago to provide equity loans to people to help buy new homes. The second stage of the scheme is due to begin next January, with buyers needing just a 5% deposit to buy a home.
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Northern Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
