Tag Archives: security
Flagship Help to Buy taken up by almost 90,000 UK buyers
Help to Buy, the UK government’s flagship housing scheme, has helped almost 90,000 people to buy a new home since it was created in 2013, the latest official figures show. Overall, since the launch of the Help to Buy equity loan and mortgage guarantee schemes, some 80% of scheme completions have been made by first time buyers and the average house price was £185,000, significantly below the national average. Some 88,420 people have bought a new home and 94% of Help to Buy completions took place outside of London while over half of Help to Buy completions have been for new build homes. Together with the government’s Help to Buy: New Buy scheme, which offers 95% mortgages for those buying new build properties, the scheme is ensuring the long term health of the housing market by increasing housing supply, stimulating home building. Over half of the homes bought through Help to Buy are new build properties, helping to contribute to the 37% rise in private house building since the launch of Help to Buy. With almost all completions outside London, the highest number of homes have been through the mortgage guarantee scheme in the North West region. The equity loan, the scheme for new build properties, is particularly high in the South East region. Figures for the mortgage guarantee scheme also show completions have been least concentrated in regions where house price growth is highest. In London the scheme makes up just 1.3 % of all mortgage lending compared to an average of 3% across the country. ‘Thanks to Help to Buy, this government has helped thousands of hard working people that otherwise would have been locked out of home ownership get the keys to their own home and enjoy the security that comes with it,’ said Prime Minister David Cameron. According to Home Builders Federation executive chairman, Stewart Baseley, Help to Buy has helped tens of thousands of people onto the housing ladder who otherwise would have struggled to meet their ambition of home ownership. ‘First time buyers in particular are taking advantage and the scheme is helping people in every part of the country. The resultant rise in demand is allowing builders to increase much needed house building levels. This is turn is creating tens of thousands of jobs and boosting local economies the length and breadth of the country,’ he added. Communities Secretary Eric Pickles believes that Help to Buy and the recently announced new Starter Homes initiative offering a 20% discount on newly built homes for first time buyers, will continue to offer a strong alternative to the Bank of Mum and Dad. Continue reading
UK govt flagship Help to Buy scheme helps over 70,000 home owners
Help to Buy, the UK government’s flagship scheme, has helped more than 71,000 people across the country buy a new home, the latest official figures show. In total over 66,000 households have been helped by the Help to Buy mortgage guarantee and Equity Loan which was introduced to help those who cannot afford a mortgage to buy a home. Some critics claimed it would not actually help those who needed it and be used by buyers in London to the detriment of others but the figures show this has not happened. The figures reveal that 81% of Help to Buy sales are to first time buyers, helping 54,000 into their first home and the vast majority of sales have been outside of London and at prices well below the national average. Together with the government’s NewBuy scheme which offers 95% mortgages for those buying new build properties, the number of new home owners has reached more than 71,000. The figures also show how Help to Buy is benefiting every region of the country. The North West is the highest region for the mortgage guarantee, while the Equity Loan scheme for new build properties is particularly successful in the East and South East and overall 94% of completions under the scheme remain outside London. Leeds council is the highest performing local authority across the country for the two parts of Help to Buy with almost 1,000 new homes secured by its residents. While Birmingham council has seen a significant increase of over 300 new completions. Help to Buy is also helping to increase housing supply and get Britain building by driving demand for new build homes. Over half of the homes bought through the scheme are new build properties, and private house building is up 20% since the launch of the Equity Loan scheme. The government also says that Help to Buy is supporting responsible lending, with the average house price for the combined schemes at £186,000, or £156,000 for mortgage guarantee and £211,000 under the equity loan scheme, all of which are well below the UK average house price of £273,000. The average house price to income multiple under the mortgage guarantee scheme is just over 3.5 times salary, and capped at a 4.5 times ratio to ensure responsible lending. Figures for the mortgage guarantee scheme also show completions have been least concentrated in regions where house price growth is highest, for instance in London the scheme makes up just 1% of all mortgage lending compared to an average of 3% across the country. ‘Getting the keys to your first home is a moment that no one forgets. It’s about being able to start planning for the future and enjoying the security that you’ve worked hard for,’ said Prime Minister David Cameron. ‘But in the aftermath of the great recession the prospect of buying a first home was nothing more than a pipe dream for many thousands of hardworking people in Britain. Even those with a decent salary who could… Continue reading
Gas explosion near Doha shopping mall kills 4
Gas explosion near Doha shopping mall kills 9 (Reuters) / 27 February 2014 Nine people were killed when gas canisters exploded in a Turkish restaurant in the Qatari capital Doha on Thursday, the official news agency of the Gulf Arab state reported. Photo courtesy: @mariam_j_d via Twitter Thirty-two were wounded, three of them critically, the agency added. “The explosion that happened today at Istanbul restaurant next to a petrol station resulted in the death of nine people,” the agency said, citing ambulance sources. Qatar’s prime minister, Shaikh Abdullah bin Nasser al-Thani, confirmed there had been an explosion in remarks to state television. “Some deaths occurred that were announced, and there will be a press conference through the Ministry of Interior to give more information about the incident,” said Shaikh Abdullah, who is also interior minister. Asked if security regulations would be tightened up after the incident, he replied that “safety precautions are all there and the precautions for civil defence are there”. Photographs purporting to show the aftermath of the incident posted on social media showed chunks of masonry and cars apparently crumpled by the explosion lying outside the restaurant in a northwestern district of the city. A fire burned inside the building. Reuters was not immediately able to verify the images. For more news from Khaleej Times, follow us on Facebook at facebook.com/khaleejtimes , and on Twitter at @khaleejtimes Continue reading
