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<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 steps.</p><p>One month after the announcement of the Help to Buy: mortgage guarantee on 8 October 2013, more than 2,000 people had put in offers on homes under the scheme totalling £365 million of new mortgage lending. The total number of RBS applicants was 1,075. The regional breakdown for RBS applicants is as follows:</p><p><table><thead><tr><td valign="top">Region<br /></td><td valign="top">Numberofapplications<br /></td><td valign="top">Percentageoftotal<br /></td></tr></thead><tbody><tr><td valign="top">North<br /></td><td valign="top">36<br /></td><td valign="top">3.3<br /></td></tr><tr><td valign="top">YorkshireandHumberside<br /></td><td valign="top">87<br /></td><td valign="top">8.1<br /></td></tr><tr><td valign="top">Northwest<br /></td><td valign="top">159<br /></td><td valign="top">14.8<br /></td></tr><tr><td valign="top">EastMidlands<br /></td><td valign="top">89<br /></td><td valign="top">8.3<br /></td></tr><tr><td valign="top">WestMidlands<br /></td><td valign="top">81<br /></td><td valign="top">7.5<br /></td></tr><tr><td valign="top">EastAnglia<br /></td><td valign="top">30<br /></td><td valign="top">2.8<br /></td></tr><tr><td valign="top">SouthEast<br /></td><td valign="top">228<br /></td><td valign="top">21.2<br /></td></tr><tr><td valign="top">GreaterLondon<br /></td><td valign="top">83<br /></td><td valign="top">7.7<br /></td></tr><tr><td valign="top">Southwest<br /></td><td valign="top">91<br /></td><td valign="top">8.5<br /></td></tr><tr><td valign="top">Wales<br /></td><td valign="top">44<br /></td><td valign="top">4.1<br /></td></tr><tr><td valign="top">Scotland<br /></td><td valign="top">124<br /></td><td valign="top">11.5<br /></td></tr><tr><td valign="top">Unspecified<br /></td><td valign="top">23<br /></td><td valign="top">2.1<br /></td></tr><tr><td valign="top">Grandtotal<br /></td><td valign="top">1,075<br /></td><td valign="top">100<br /></td></tr></tbody></table></p><p>Once the Help to Buy: mortgage guarantee scheme opens in January, the Government will collect data on mortgages covered by the guarantee, and will report in due course.</p> |