Mortgages: Controversial Help to Buy to launch this week

David Cameron Gives His Keynote Address At The Conservative Party ConferencDavid Cameron has announced that the second phase of the Government’s controversial Help to Buy scheme will be launched this week, three months earlier than originally planned. The Help to Buy scheme was originally announced earlier this year in George Osborne’s Budget and has been launched in two parts. The first phase provided help to buyers of new homes, by giving them access to a shared equity loan of up to 20% of the purchase price, providing they were able to ...

Huge leap in mortgage lending

Huge leap in mortgage lending 150 pxNew figures from the Council of Mortgage Lenders (CML) show a huge increase in the level of mortgage lending over the past 12 months. The CML data shows a rise of 29% in gross mortgage lending in July this year, compared to the same time 12 months ago. The figures also show a 12% rise from June 2013 to July 2013, taking gross mortgage lending to £16.6 billion. According to the CML mortgage lending is now at the highest level since October 2008, when the ...

Nationwide House Price Index: Steepest rise for three years

Nationwide Building SocietyThe latest figures from the Nationwide House Price Index show a sharp jump in house prices over the past 12 months. According to the UK’s largest building society, house prices rose in July by 0.8%, with the London market again leading the way. Over the past 12 months, the Nationwide reported prices have risen by an average of 3.9% across the UK; the fastest rate of growth since August 2013....

Help to Buy scheme unavailable to second owners

House front in scaffoldsThe Chancellor, George Osborne, has revealed the second stage of the Help to Buy scheme will be unavailable to second owners. George Osborne has also called a meeting of house builders and lenders, to discuss the finer details before the second phase of the scheme is launched. The first part of the Help to Buy scheme, which helped those people wanting to buy new-build properties by giving them equity loans, was launched shortly after the last Budget. The second phase will kick in at the beginning of 2014 ...