Bye Bye Help to Buy

Help to Buy replacement mortgage products on the way

The Government’s Help to Buy assisted purchase program has proved a success since its introduction in 2014.

Both the help to buy mortgage guarantee scheme and the equity loan scheme have helped a number of buyers get into the market and others move up through the market.

Despite some sections of the press pouring scorn on Help to Buy suggesting it is helping the better paid to buy bigger homes, the vast majority assisted have been on more modest incomes.
The current help to buy scheme is due to end in 2016; as yet there is been no signal from central Government that the scheme will be extended.

95% mortgages to continue

We were therefore pleased to hear today that one major lender has decided to continue to support first-time buyers with 95% mortgages once the Government guarantee under Help to Buy has been removed.

Santander have announced that they will continue to provide 95% loan to value products to suitable borrowers with a lending policy which mirrors the existing H2B scheme policy and equivalent mortgages rates and fees.

This is good news, not only for first-time buyers, but also for home movers is continued support for higher loan to value lending enables fluidity in the market.

We congratulate Santander on this move and hope other Lenders follow suit.

Further Help to Buy Scheme information

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