Wednesday, 9 September 2015

Help to Buy jump

Record numbers of buyers snapped up newly built homes in June, using the government's Help to Buy scheme.

The month saw 4,745 taking advantage of a state-provided interest free loan, provided under Help to Buy, to boost their deposits.

More than 3,800 of them were first time buyers, stepping onto the housing ladder.

Housebuilders have been cashing in, with Barratt Developments reporting a 45 per cent jump in profits this morning, to £565m.

Higher prices have been helping the builders as well: the price of the average Barratt home has risen by nearly 9 per cent in a year.

More than 56,000 buyers have completed purchases using Help to Buy Equity Loan scheme since it launched in April, 2013, on £12bn worth of homes.

A similar number have benefited from the scheme to assist buyers of older homes, called Help to Buy Mortgage Guarantee.

The Treasury put the total helped by various programmes so far at 120,000.

1 comment:

  1. Suprised at u 4 not dissmissing the Bank of E fpc report on buy to let, of course there has been an increase since 2008 as before that it was hardly known as it was simply known as property loans, sometimes companies sometimes individuals, now the buy to let lenders prefer individuals so we buy in our own names instead of the companies!!! if the owner occupier buyers r not growing then it makes sense the btl market is !!! finally the chinese, russian and eastern european buyers r heavy investors but werent in 2008 they know their own economies are not stable and they want their cash out asap so they buy in a stable country where even if the market dips they know long term its safe.