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Help to Buy 1 aids 3,000 Persimmon home sales

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  • 06/11/2013
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Help to Buy 1 aids 3,000 Persimmon home sales
Persimmon 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.

According to the house builder’s latest results, weekly private sales since July have been 45% higher than the same time last year.

The introduction of the government-backed equity loan scheme has been particularly attractive, it said.

Regarding the Help to Buy mortgage guarantee scheme, Persimmon said: “With only a limited number of lenders involved in this second phase so far, the impact to date has been muted due to the higher level of interest rates being charged.”

Sales are likely to rise as more lenders enter the scheme, the builder acknowledged.

However, it expects the rates offered on the equity loan scheme will continue to be more competitive: “We believe mortgages associated with the Help to Buy equity loan scheme will remain the preferred choice for the majority of customers of the housebuilding industry.”

Persimmon has sold all its stock for 2013 and has £650m forward sales reserved beyond the end of the year. Reservations are 41% higher than the same time last year.

In August, Persimmon finance director Mike Killoran said the second part of Help to Buy would boost house building

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