Help-to-buy mortgage guarantee scheme to finish
October 4, 2016
The Government help-to-buy mortgage guarantee scheme which has helped more than 86,000 households so far will close at the end of this year according to the Chancellor Phillip Hammond.
The scheme was specifically designed to help first time buyers get that foothold on the property ladder, however in a letter to Governor of the Bank of England Mark Carney, Mr Hammond said the scheme had a “specific purpose that has now been successfully achieved”.
The Help to Buy mortgage guarantee scheme allowed buyers to borrow up to 95% of purchase price with a 5% deposit, the government guaranteed a portion of the repayments to encourage lenders.
You May Also Enjoy
England tightens planning rules to save local pubs
Turning pubs into housing or offices will be made harder as part of changes to government planning rules in England. Under the updated National Planning Policy Framework (NPPF), anyone seeking to change the use of a beloved local venue must now provide strict proof that the business cannot survive, including evidence that it has been…
Read More 
UK modern method auction house sales up nearly 15%
UK house sales via modern method auctions increase nearly 15% year-on-year New data from leading estate and lettings agency network shows growing appetite for modern method auctions, with completion times 43% quicker on average versus traditional methods Modern method auction (MMoA) sales are gaining ground in the UK housing market. New data from Lomond, the UK’s leading network of lettings and sales…
Read More 
London’s garden squares commanding huge market premiums
The latest research by London lettings and estate agent, Benham and Reeves, has revealed that homes surrounding some of Prime London’s most prestigious garden squares continue to command huge values even in cooler market conditions, with buyers paying property premiums as high as 175% compared to the wider borough. Wilton Crescent Garden, located on the…
Read More 
Full Steam Ahead to Fast-Track More Homes Near Stations
Thousands of quality homes to be built closer to stations, cutting commute times and helping families live closer to work, school and transport New planning rules will fast-track building quality homes near transport hubs in England Part of the biggest rewrite of planning rules in over a decade to build homes faster, drive good growth, unlock investment, jobs and education opportunities Thousands of new homes will be built around England’s train, tram and underground stations under new planning…
Read More 
Breaking Property News 17/8/26
Daily bite-sized proptech and property news in partnership with Proptech-X. New regional property roadshow to generate conversations with vendors, buyers and homeowners Fine & Country West Wales, in partnership with Homes of Wales, is launching a new regional property roadshow designed to generate conversations with vendors, buyers and homeowners whose moving plans have…
Read More 
Largest August price drop since 2018 despite mini Burnham bounce in demand
Average newly-listed asking prices drop by 2.0% (-£7,360) this month to £364,999, a much larger than usual August drop: Many summer sellers slash their price expectations in reaction to the quieter holiday period and 12-year high number of homes for sale at this time of year Average prices are now 1.0% lower than a year…
Read More