The second phase of the Government’s Help to Buy Scheme has been praised by some as a much-needed stimulus for housebuilding and economic recovery and derided by others as a distortion of the market and a drain on the taxpayer.
The mortgage guarantee scheme is designed to give the housing market a boost by providing Government guarantees for high loan-to-value mortgages. The Treasury published its first statistical release on Help to Buy II on Thursday. Here’s a closer look at the data:
There have been 7,313 mortgage completions from the time the scheme began on October 8 through to the end of March, representing 1.3pc of all residential mortgage completions in the UK over the same period.
Source: telegraph.co.uk