Housebuilders Believe Help to Buy Likely To Become Permanent Fixture of Economy

Housebuilders believe the Government’s Help to Buy scheme, originally aimed at kickstarting the property market, is likely to become a permanent fixture of the economy. Since the financial crash of six years ago, tighter regulation and the need to repair their devastated balance sheets mean banks are reluctant to offer the 95 per cent loan-to-value mortgages which are vital in the new-build market. A senior executive at a leading housebuilder said: “The banks are still not interested in offering mortgages of more than 80 per cent loan-to-value in new-build homes and that leaves a big gap which only the Government seems likely to fill any time soon.” Read more on the Daily Mail  website.