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Help to Buy Mortgage Guarantee Ending Dec 2016 - Implications
steve_moneysaver
Posts: 5 Forumite
I understand that the Help to Buy Mortgage Guarantee Scheme is due to end by the end of December 2016. This seems strange given the big push for the scheme and support for first time buyers. Hoping that it gets extended at the next budget!
Is this likely to lead to a big reduction in the number of 5%-15% mortgages offered, considering that the government will no longer underwrite them after the end of this year? I'm hoping that it doesn't lead to a big rush at the end of the year!
Is this likely to lead to a big reduction in the number of 5%-15% mortgages offered, considering that the government will no longer underwrite them after the end of this year? I'm hoping that it doesn't lead to a big rush at the end of the year!
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Santander have withdrawn from the scheme and now offer 95% mortgages on their own. I guess the default rate is quite low and house prices have been quite stable.
I think many other banks will do the same and keep going with them, at least in the short term.Changing the world, one sarcastic comment at a time.0
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