Help to Buy product launch imminent Chancellor George Osborne is expected to launch the second phase government’s Help to Buy scheme tomorrow, Tuesday 8 October. Osborne and Prime Minister David Cameron announced the second part of Help to Buy, the mortgage guarantee scheme, was to be brought forward from its original January start date to October ahead of the Conservative party conference last week. Several lenders announced their participation in the scheme, including Bank of Scotland, Halifax, NatWest and Royal Bank of Scotland. They are expected to launch products this week, following Osborne’s announcement. Other lenders are expected to join the scheme in due course with Aldermore already confirming its plans to offer mortgages under the scheme. Help to Buy mortgage rates are expected to be between 4% and 6% at launch, with lender preparing for a surge in demand from first-time buyers. Research from Santander suggested that as many as 1.7m Brits were planning to use Help to Buy to aid a property purchase in the coming year.
Posted on: Tue, 08 Oct 2013 10:46:35 +0000
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