In its half-yearly results, Persimmon said the scheme – which provides shared equity loans held equally by the Government and the housebuilder – allowed the firm to spread its equity over an increased volume of house sales.
The firm’s comments are a further example of the impact of the Government initiative, although a vast number of brokers remain unaware of the possible benefits of the scheme.
Mortgage Solutions has long campaigned for improved training and greater educational resources for intermediaries looking to get involved with such schemes.
John White, group chairman of the firm, said the initiative was now ‘gaining momentum’.
He explained: “We are using this scheme to good effect and plan to continue with it. We are confident this remains a most attractive offer in the current mortgage market, particularly to first-time buyers, and that it will deliver additional returns over the medium term.”
The firm’s results also revealed that it became the first major housebuilder to increase the value of its land bank, a significant landmark that analysts believe could mark the end of the housing crisis.
The development follows the news that Bovis has predicted market stabilisation after making good progress in the first half of 2009, boosted by its private sales rate, lower overhead costs and reduced debt.
