Prices of new build properties in England increased over 17% in a year with record loans from the government’s Help to Buy scheme.
Figures from the CML estimate a 30% rise in mortgage lending over the year as homebuyers seek to complete before the April deadline.
Lenders for the new London Help to Buy are offering mortgage rates as low as 1.55% to first time buyers and home movers.
From February the new London Help to Buy scheme will offer homebuyers loans up to 40% of the property value to purchase new-build homes.
Homebuyers in London are to benefit as the government improves Help to Buy and removes restrictions for Shared Ownership scheme.
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