Kevin Beale – New Build Specialist Distribution Manager
Next month marks the sixth anniversary since the launch of Help to Buy and I think it’s fair to say the scheme has since become a cornerstone of the UK housing market.
The figures speak for themselves. The number of first time buyers hit a 12 year high in 20181, thanks in part to Help to Buy. According to the latest government statistics2, there have been almost half a million completions using one or more of the Help to Buy schemes since their introduction in 2013, with nearly 90% of them completed by first time buyers.
As one of the first specialist lenders to enter the Help to Buy market, we recognise just how important the scheme has been in helping first time buyers take their first step on the property ladder. We’re always thinking of new ways we can help more customers get the mortgage they want, so I’m delighted to announce we’ve extended our range to include Help to Buy Remortgages and Help to Buy Scotland.
Our Help to Buy Remortgages will help early adopters of the Help to Buy scheme make the transition from becoming first time buyers to established homeowners.
Click here to find out full details of our Help to Buy Remortgages.
I’m also really excited about the launch of Help to Buy Scotland as this is the first time we’ve offered this north of the border. With the government offering an equity loan up to 15% of the property value, it could be ideal for customers who can meet mortgage repayments but only have a deposit of at least 5%.
Click here to find out more about our Help to Buy Scotland offering.
With nearly three years’ experience in the Help to Buy market, we know what we’re doing when it comes to supporting Help to Buy applications. Our proposition is backed up by a dedicated Priority Processing Team which is committed to assessing cases within 48 hours and making offers within 21 days, as well as providing support and regular progress updates.
To give customers even more of a helping hand, we don’t take commitments with fewer than 12 months left to run into consideration and we calculate affordability based on 1.75% of the equity loan.
To find out how much your customer could borrow, try our Residential Mortgage Calculator. If you’d like more information, please call our Priority Processing Team on 0330 159 6001.
Source: 1 https://www.ukfinance.org.uk/press/press-releases/number-first-time-buyers-reaches-12-year-high-2018