UK Government launches "HomeBuy" mortgage in conjunction with private sector

October 4, 2006 at 6:09 am | In UK, housing market, mortgage, politics | 1 Comment

Given the realities of the UK housing market, the DCLG announced yesterday the release of a government support mortgage program called “Open Market HomeBuy”; which is being supported by four private sector lenders, Nationwide, Yorkshire Building Society, Advantage (a Morgan Stanley company) and Bank of Scotland. Open Market HomeBuy will boost people’s buying power by up to 25 per cent, according to the press release.
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  1. Unfortuneately Advantage Mortgages went bust due to their Morgan Stanley connection. Yorkshire Building Society ‘dabbled’ with the scheme but were more interested in acquiring direct business rather than to support brokers. Halifax are now Lloyds TSB owned and appear to have very little money to lend. The whole scheme is basically in tatters. http://ctab1.wordpress.com/2009/05/19/open-market-homebuy/

    You may add your comments there as well.

    Comment by ctab1 — June 2, 2009 #


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