Exact(12)
Help To Buy is designed to boost mortgage lending and help buyers with small deposits get on the property ladder.
Extending Help to Buy aims to boost mortgage availability by reducing the risk for lenders, and will cover both existing and newly-built homes.
The economy is growing at a robust pace, and the employment rate continues to rise, which would usually be expected to boost mortgage activity.
Since then, the government has launched its new buy scheme to encourage the return of 95% mortgages and its funding for lending scheme to encourage banks to boost mortgage availability.
Government-backed measures to boost mortgage lending have helped roll back a five-year depression in house prices after official data revealed that the property market in England is now above 2008 levels.
"Ongoing government spending cuts mean the UK is experiencing an old-style housing-led recovery leaning heavily on loose monetary policy and tax-payer financed schemes to boost mortgage availability.
Similar(48)
Redrow's results come a day after other homebuilders also reported higher profits, suggesting the housing market is slowly recovering as the government's attempts to boost mortgages gathers steam.
The government's funding-for-lending scheme has been much more effective at boosting mortgage lending than it has in channelling funds to small businesses.
The news boosted mortgage lenders like Countrywide Financial, which is up 6% in premarket trading.
It is hard to see what might give a boost to mortgage lending in the near term".
The Bank has slashed 3.25 percentage points off interest rates since February, but this has so far failed to boost the mortgage market.
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