A total of 400 housebuilders have signed up to the government’s Help to Buy housing stimulus scheme, as well as four key high street lenders.
Construction News has also learned that around 4,700 reservations have so far been made under the scheme, while four major high street lenders have signed up to support the programme.
These are Halifax, Woolwich, Natwest and Nationwide, as well as smaller independent building socieities.
Homes and Communities Agency chief executive Andy Rose told delegates at the Chartered Institute of Housing conference in Manchester yesterday that 400 housebuilders had also signed up as of the end of May.
Help to Buy, announced in this year’s Budget, guarantees mortgages and provides buyers with equity loans of up to 20 per cent.
It has been widely hailed as a success by the industry, which points to the scheme as providing production uplifts of up to 15 per cent.
Housing giant Barratt said in May that it had seen 400 reservations in just one month.
According to the Home Builder’s Federation, around 4,000 new homes were reserved under the scheme in its first two months.