Banks not lending on new-build under H2B

17th January 2014

The Financial Times reports that a number of high-street lenders are not offering loans for new-build properties through the mortgage guarantee part of Help to Buy.

Santander said that pre-existing restrictions prevented them from offering mortgages on new-builds through the second part of the scheme. Halifax said that the existence of Help to Buy 1 and NewBuy meant that there was no need to offer mortgages for new builds through Help to Buy 2. Elsewhere, the Times notes that Help to Buy 2 loans are proving very hard to secure even for the most credit worthy applicants.

Source:   Financial Times