Help to Buy is working as online estate agency records 28% increase in viewings in just 7 days of scheme launching
It may only be a week since the second phase of the Government’s Help to Buy scheme launched but its aim to help more people get on the UK property ladder is clearly working according to leading online estate agency, My Online Estate Agent.
- Help to Buy launched on Tuesday 8th October 2013
- Government scheme aims to get more people onto the UK property ladder
- 28% increase in viewings arranged by My Online Estate Agent in 7 days since launch
In the 7 days since launch on 8th October 2013, My Online Estate Agent has recorded an impressive 28% increase in the number of viewings arranged for properties for sale across the UK compared to the last 7 days preceding Help to Buy.
Richard Patterson, Director of My Online Estate Agent and hands on landlord, comments,
“With all the hype surrounding the launch of the Help to Buy scheme, we expected to see a rise in interest levels but nothing on this scale. Enquiries have literally been flooding in from first time buyers and second steppers alike, all keen to arrange property viewings now that they have been able to access mortgage finance.”
Indeed the rush to step up or on the property ladder as a result of Help to Buy has also been witnessed by mortgage lenders. The Royal Bank of Scotland (RBS) reported taking 10,000 calls in the first 4 workings days and booking 5,000 mortgage appointments within just 3 hours of the scheme going live.
With Barclays the latest bank to sign up to the scheme at the end of last week, over two-thirds of lenders in the UK mortgage market are now committed to helping those who can afford mortgage payments but are struggling to raise the deposit to get onto the ladder.
Richard Patterson continues,
“It is very encouraging to see the likes of RBS/NatWest, the Halifax, Santander, HSBC, Virgin Money, Lloyds, TSB, Aldermore and now Barclays all committed to offering Help to Buy mortgage products by the start of January 2014.
“All too often past Government housing market stimulation initiatives have fallen flat on their face due to a lack of external support but this time, things might just be different and allow everyday, hardworking Britons the opportunity to own their own bricks and mortar.”
For more information on the impact of Help to Buy on My Online Estate Agent please contact Richard and the team on 0845 257 1101 or visit www.myonlineestateagent.com.