Mortgage News
Help to Buy boosts Persimmon reservations
Persimmon has reported a 30% increase in reservations since the Help to Buy scheme was introduced earlier this year.
The UK housebuilder’s reservation rate was 12% ahead of last year in the first half of the year. However, since the introduction of the Help to Buy shared equity scheme in April 2013, the rate was 30% stronger.
It stated: “We are encouraged by the gradual increase in the number of major mortgage lenders supporting this government initiative and anticipate that all the major lenders will be providing ‘Help to Buy’ related mortgage products over the coming weeks.”
Persimmon has secured 1,124 Help to Buy reservations since launch. It has also completed 7% more homes than in the first half of the previous year at a higher average selling price.
Total revenues for the for the first six months of the year came to £900m, up 12% on last year’s £806.7m, after finishing 5,022 new homes.
The group achieved an average selling price of £179,200, compared to £171,206 last year, driven by an increase in the proportion of larger family housing in the sales mix.
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