Help to Buy is Working
Help to Buy is helping first time buyers. First time buyers in London are at record levels. 11,700 first time buyer mortgage approvals were processed in the third quarter of 2018. A similar picture is found albeit to a lesser extent in the rest of the country.
Jackie Bennett, director of mortgages at UK Finance, said:
“London’s mortgage market remained resilient in the third quarter of this year. This is despite an uncertain economic environment. The number of first-time buyers reached its highest level in three years, boosted by schemes such as Help to Buy. The recent extension of the scheme until 2023 will help more people get a foot on the housing ladder.”