The Government’s Help to Buy mortgage guarantee scheme
(HTB2) is opening up the market to lower earners, compared to the mainstream
housing market, according the brokerage firm Mortgage Advice Bureau (MAB). In
the final three months of 2014, the average salary of people using the scheme
dipped 11% from £31,270 to £27,957. By contrast, MAB said, the average salary
of borrowers in the wider buying market increased “marginally” from £39,834 in
September to £39,983 in December. This has meant that the average HTB2
homebuyer’s primary salary in December was £12,000 lower than the purchase
market average. Read more on the Housing Excellence website.
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