Lloyds Bank has become the latest lender to launch Help to Buy mortgages as the Government reveals almost 750 homeowners spent the festive season in new homes. by acquiring mortgages via the scheme from state-backed lenders. Data from the Treasury shows more than 6,000 people have put in applications through RBS, Natwest and Halifax since phase two of Help to Buy launched three months ago. This number could soar in the coming months, amid fears of a property bubble, as the Government will start including applications from other participating lenders in future releases. Phase two of the Help to Buy mortgage guarantee scheme was originally supposed to launch this month. But the Treasury wanted to kickstart the housing market and instead announced the start of the scheme in October, guaranteeing up to Pounds 12billion of lending to allow banks to provide high loan-to-value loans. The Government at the time said banks could start lending in October but the guarantee would only take effect from January. The mortgages applied for in the first three months of the scheme, once approved, would represent nearly Pounds 1billion of lending.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Quiznos Files for Chapter 11