Help to Buy scheme welcomed by CML
The Council of Mortgage Lenders (CML) have welcomed the launch of the Help to Buy scheme by the government following the publication of its detailed information yesterday (8th October 2013).
A number of lenders have already announced that they will be participating in the scheme, and have introduced their Help to Buy mortgage deals.
Director of CML, Paul Smee commented:
“As the mortgage market continues to unfreeze, assisted by Help to Buy and Funding for Lending, an increase in the supply of new housing will be a crucial factor in success. The homes need to be there for people to buy, as well as the finance to buy them.
“The key benefit of the scheme is in providing additional security to lenders, and so making it more likely that they will be willing to make loans to creditworthy borrowers with modest deposits.”