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Complex borrower searches more than double in April: L&G

Complex borrower searches more than double in April: L&G By Roger Baird 21 st May 2021 12:53 pm The number of mortgage searches by brokers looking for providers willing to lend to borrowers with unsatisfied defaults jumped by 108% between March and April, according to Legal & General Mortgage Club’s SmartrCriteria tool. This was the third most searched for criteria point, and is up from a 40% surge between February and March, says L&G. Searches for mortgages suitable for applicants on furlough income fell by 40% between March and April, although this remained in the top ten most-searched criteria for the fourth month in a row.

New loan deals help ease plight of first-time buyers

Number of properties bought using HTB equity loan up 40%

Additionally, 82% of all completions were by first-time buyers. Craig Hall, head of broker relationships & propositions at Legal & General Mortgage Club, said: “Today’s Help to Buy statistics show that the government scheme continued to provide a useful route into homeownership for many in the final months of 2020. “Since its launch, the initiative has helped thousands to achieve homeownership, but government has been clear that it cannot last forever, and it will eventually stop in 2023. “The housebuilders and financial services industry are currently working on private alternative schemes in the wake of Help to Buy, we are currently awaiting full details on how these will work.

Help to Buy scheme sees 40% rise in uptake | Mortgage Strategy

Help to Buy scheme sees 40% rise in uptake By Gary Adams 13 th May 2021 11:26 am There was a 40% rise in use of the Help to Buy scheme in the final quarter of 2020 on an annual basis, latest government figures show. The data shows that 21,026 properties were bought using the scheme in Q4 2020 compared to 15,049 in Q4 2019. In total, 49,714 properties were acquired through Help to Buy last year and, in 2019, 52,246. This brings the total number of homes bought with an equity loan, since the scheme started in April 2013, to 313,043 at a value of £86bn – £18.9bn being the total value of the loans to date.

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