Mortgage News
Help to Buy 1 boosts firm’s business by a third
A broker firm specialising in new-build has seen business rise by almost a third since the launch of the Help to Buy equity loan.
Mortgage Bureau assisted in the completion of 916 mortgages in the third quarter of 2013, compared to 690 in the first three months of the year, before the Help to Buy scheme opened.
As a result of the boom in business, the firm has appointed new homes specialist Helen Pierson as its second national sales manager.
Mortgage Bureau is an appointed representative of the Mortgage Advice Bureau, and part of MAB’s New Homes Network.
MAB new homes director Andy Frankish said: “It is definitely the Help to Buy effect. The equity loan is a fantastic product for consumers but also for developers because it allows them to buy more land.”
The network continued to invest in training for staff which covered the variety of new-build schemes, he added.
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The house builder Persimmon homes this week said it has sold more than 3,000 homes under the Help to Buy equity loan scheme since April – but demand for the second part of the scheme is yet to appear.