|
|
<p>On 8 October 2013, the Chancellor and the Prime Minister announced that borrowers can start benefitting from the Help to Buy: mortgage guarantee scheme and published the final scheme rules.</p><p>The Government is committed to making the aspiration of home ownership a reality for as many households as possible. The Government wants current and future generations to experience the benefits of owning their own home, in the same way their parents were able to. Since the financial crisis, larger deposit requirements and falling equity values mean many credit-worthy households cannot get a mortgage, or are trapped in their existing homes unable to take the next step.</p><p>The scheme rules set out that for a mortgage to be considered eligible it must, among other criteria, be on a property in the UK with purchase value of £600,000 or less.</p> |