Property News · March 5, 2015

Help-to-buy scheme needs replacement before it ends, warn mortgage lenders


Failure to replace mortgage guarantee scheme, which is due to end in 2016, would hit first-time buyers and competition in housing market, says IMLAFailure to replace the help-to-buy mortgage guarantee scheme when it comes to an end next year will choke off competition and push the first-time buyer market back into decline, lenders have warned.The scheme, which offers banks and building societies a government guarantee on mortgages of up to 95% loan to value (LTV) on existing properties, was launched in late 2013 as part of a series of measures to kickstart the housing market. But it is scheduled to end in 2016. Continue reading…

Source : theguardian.com
Read more…Help-to-buy scheme needs replacement before it ends, warn mortgage lenders

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