Help to Buy Mortgage Guarantee scheme has driven further expansion


Help to Buy Mortgage Guarantee scheme has driven further expansion just three months since its start. The Help to Buy mortgage guarantee-scheme has had over 6,000 people put in offers looking for homes and houses for sale in islington and applied for mortgages.

In November of last year, ministers published and released figures that showed that in the very first month, the Help to Buy Mortgage guarantee scheme had more than 2000 people who had put in various offers looking for houses for sale and houses to rent in islington and they applied for a Help to Buy-mortgage. The figures that were given in November of last year have now trebled.

Once the home or house mortgages have been approved, they would represent almost £1billion of a new lending to aspiring house and home owners who may probably have previously found today's property market more out of reach mostly because of the required or the needed size of deposit in order for one to acquire property.
Santander and Barclays will introduce their very own Help to Buy-products onto the general market this month. Santander and Barclays join the like of RBS, Lloyds Banking Group, Aldermore, HSBC and Virgin Money who have all launched various products over the last 3 months. This has essentially provided a rather needed wide range of options for all first time buyers/customers and all other potential-applicants in 2014.
This Help To Buy Mortgage expansion will mean two thirds of the whole of UK mortgage-market will offer various products under the Help-to Buy guarantee scheme. This will in turn bring home and house ownership to a steadily growing number of buyers/people.
The recently published figures also reveal that an additional 20,000-households have been supported by Help to Buy Equity-Loan-scheme. Help To-Buy Equity Loan-scheme is a separate type of scheme where the Government normally provides an interest free loan in order to support citizens in purchasing newly built houses or homes.

The Government recently said that the massive and large numbers of applicants for Help to Buy-mortgages suggests that the high Loan to Value part of the mortgage-market, is moving again.
High Loan to Value-mortgages were the main-route or main way to home ownership for most first-time buyers over the last-30 years, but in recent years there have been fewer-products available.
The Prime Minister "David Cameron" recently said, and i quote: "A new year is usually a time when most people look-to make those big-life changing choices and decisions like moving to a new home or taking the first-step on the housing-ladder , but many people have often found themselves frozen-out of the housing market in recent-years especially because of the size-of the deposit-required.
"That's why as part-of our long term economic-plan we recently introduced the Help-to Buy mortgage scheme, so that hardworking people who have sufficient earnings and savings can get on and fulfill their aspirations, and get to enjoy the security that comes with owning your own house/home.
"In less than just 3 months, the Help To-Buy-scheme has helped thousands of-people. I want to see this continue in 2014 as Help to Buy Scheme continues to help thousands and thousands more achieve their dream of owning a home."