Over 1,000 Halifax customers become homeowners through Help to Buy

Halifax has already assisted over one thousand new homeowners on to the property ladder with its Help to Buy mortgage guarantee products.

The 1,000^th Halifax customer completed on their home in January, just four months on from the launch of the Halifax Help to Buy mortgage guarantee range.

The scheme was introduced by the government to incentivise lenders to offer high loan to value mortgages to those with smaller deposits.

The key facts, based on applications received between 11 October and 31^st January:

• Over 5,000 full mortgage applications submitted to Halifax
• These applications are to the value of £791m
• The average property value stands at £157,660
• 8 in 10 applications are from borrowers outside London and the South East
• More than 80% are from first time buyers

Craig McKinlay, mortgages director, Halifax said: “To have already helped over a thousand customers receive the keys to their new homes shows that the scheme is making the property ladder more accessible to aspiring homeowners and homemovers.

“The fact that Help to Buy is benefiting buyers in every region in the UK is testament to how it is helping those that can afford the monthly payments, but had not previously been able to get the necessary deposit.

“Four months on, we’re still seeing strong levels of interest in our Help to Buy range and are receiving almost 500 full mortgage applications a week. The scheme is continuing to benefit a significant number of people buying their first home and, as our figures show, is making a difference to homebuyers throughout the country.”

Halifax Help to Buy Completions to 31^st January: