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Rics: Help to Buy boosts new buyer mortgage inquiries

Home House Residential Mortgage Buyer 700x450.jpg

The Government’s Help to Buy scheme has helped raise inquiries by new buyers to their highest level since November 2009, according to a Royal Institute of Chartered Surveyors poll.

In the March Budget chancellor George Osborne launched two new measures, known collectively as Help to Buy, designed to build on the Government’s existing mortgage indemnity and shared equity schemes.

The Help to Buy initiative comprises a £130bn mortgage indemnity guarantee scheme and a £3.5bn commitment towards shared equity loans over the next three years.

Research from Rics, published in the FT today, shows 25 per cent more chartered surveyors recorded an increase in demand for property than a fall in April, up from 13 per cent in March.

Rics director of global residential housing Peter Bolton King says: “Help to Buy in combination with the Funding for Lending Scheme appear to be giving the market a shot in the arm.

“Thankfully, sales are expected to pick up over the coming months, albeit from historically low levels.”

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