David Cameron recently rejected claims of a housing bubble, while heralding what he calls a successful scheme in Help to Buy.
The PM accused those opposing the scheme, who include Vince Cable, Business Secretary for the Lib Dems, as being too focused on the capital. He said that, in a number of regions, the prices were hardly moving.
Over 6,000 offers and applications have been submitted for homes and mortgages respectively under the scheme since its inception earlier this year. That means that a large number of homes are being filled, resulting in more work for joiners in the Wirral and other areas of the country.
Close to 750 home-owners have made their purchase, with hundreds seeing the New Year in within the comfort of their new home, says the Government.
The PM said:
“Where we are today, house prices are still way below the peak they reached in 2007. Forecasters do not think they will get back to the level before the crash even in 2019. So there is no evidence of a problem.”
Santander and Barclays will offer Help to Buy products as from this month, which will see them in company with Aldermore, Virgin Money, HSBC, RBS and Lloyds Banking Group, each of which have joined the scheme within the past three months.
This will result in two thirds of the mortgage market in the UK offering Help to Buy products, meaning that an increasing number of people will be able to buy their own home.
