New 95% LTV Help To Buy Scheme To Launch

The government will launch a 5% deposit Help to Buy mortgage guarantee scheme. It will be limited to properties worth up to £600,000, though it will not be restricted to first-time buyers or new builds – like the new version of the equity loan scheme. Lenders utilising the scheme will offer mortgages fixed for at least five years. Under the terms of the scheme, banks and building societies will be able to buy a government guarantee to compensate them for a portion of their losses in the event of a repossession. Read more on the Property Wire website.

https://www.propertywire.com/news/new-95-ltv-help-to-buy-scheme-to-launch/

Help To Buy Loan Guarantee Scheme Comes To An End

One of the government's flagship home ownership programmes ends on Saturday, amidst both praise and criticism. The Help-to-Buy Mortgage Guarantee scheme is likely to have helped more than 100,000 individuals or couples buy a home. The Council of Mortgage Lenders said it had worked "exceptionally well", making mortgages more available when it started in October 2013. However Shelter has argued that the scheme helped to push up house prices. The Help-to-Buy Equity Loan scheme - which is only available on new-build homes - will remain on offer until 2020, in England alone. Read more on the BBC website.