Help to Buy was launched last year and offers banks insurance against the risk of lending to home-buyers who cannot afford large mortgage deposits.
"The Help to Buy extension builds on the government's commitment to support the
Islamic finance is worth around 11 billion pounds (
Later this year
However, the sum of money that it intends to raise - around 200 million pounds - is small and in the past the government's debt issuance agency has had doubts about whether Islamic finance offers value for money and said the bond is likely to be a one-off.
The finance ministry said Help to Buy Islamic mortgages would be provided by the
Under the mortgages, the property is owned by the bank and home-buyers purchase it in stages, paying the bank rent on the rest of the property.
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