Liquid error: wrong number of arguments (2 for 1) Property boost from `Help To Buy? scheme | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Property boost from `Help To Buy? scheme

Sun 06 Oct 2013

It will offer state-backed mortgages, allowing buyers to get their dream home with just five per cent deposit.

That will amount to under 10,000 in six out of 10 regions across the North, the Midlands and Wales, property

website Zoopla found. With an average asking price now at 222,168, it said a typical five per cent deposit would

be 11,108.The website said the new phase of the scheme which applies to properties under 600,000 could knock

22billion off deposit needs.At 16,103, London buyers will still need most cash, but house hunters in Yorkshire will

need just 8,129 in hand.Peter Rollings, of estate agent Marsh & Parsons, said it would act like a shot of adrenalin

for the market.RSB to take part in Help to Buy scheme[GETTY] Studies suggest that Help To Buy will ramp up

demand Studies suggest that Help To Buy will ramp up demand, prompting critics to warn it could cause a price

bubble.

Experts say lenders will still impose tough borrowing rules and interest rates may be set at six per cent. That

means a 200,000 mortgage would cost 1,316 a month.RBS, Lloyds and Halifax are taking part but other lenders

want more details.

The scheme will run until 2017, providing 12billion of guarantees which will unlock 130billion of lending.

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close