Five months on from the scheme’s launch the latest Mortgage Solutions People’s Poll asked brokers how many cases they had completed.
More than a third (34%) of respondents said they had not yet completed a case but results were highly divided with 31% already completing more than four cases since launch.
Research released earlier this week by the Intermediary Mortgage Lenders Association showed half of the industry expect the government scheme to be withdrawn before the end of its intended three-year life.
The trade body found half of mortgage brokers and a similar amount of lender respondents (46%) expect the scheme to be axed, with many believing the remortgage element will be the first to go.
Two-thirds (69%) of lenders feel the scheme is artificially inflating house prices with 57% of mortgage advisers sharing this fear, the report also found.
IMLA executive director Peter Williams said: “These findings throw the spotlight on crucial policy decisions that must be thought through to safeguard the recovery in mortgage lending and house building. The overall Help to Buy scheme has delivered a much needed boost over the last twelve months and we would certainly be looking at a more subdued supply situation without it.
“In particular, Help to Buy 2 has helped to reopen the higher LTV market after the downturn. This has done much to transform the hopes of first time buyers who can afford a mortgage but struggle to save an initial deposit. There are few clearer drivers for more homes to be built than aspiring buyers returning to the market.”
