The beginning of the end for Help to Buy: Guarantee for 95% mortgages will close at end of the year after helping 86k buyers on the property ladder
The Government is to close former Chancellor George Osborne's flagship Help to Buy mortgage guarantee scheme at the end of the year, it confirmed today.
The scheme, launched in autumn 2013, enables buyers to buy a home with a five per cent deposit, with a Government guarantee for lenders on the next 15 per cent of a property's purchase price to encourage banks and building societies to offer small deposit mortgages.
New Chancellor Philip Hammond told Bank of England Governor Mark Carney in a letter that the scheme was 'introduced with a specific purpose that has now been successfully... read more
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