Help to Buy Helps Property Market

Help to Buy Helps Property Market.

The British Bankers Association (BBA) are expecting property sales in the UK to keep increasing, this comes after figures from its members showed a 38% increase in lending compared with a year ago.

The number of approved mortgages, but not yet lent increased to 57% from last year.

Some of the increase in approved mortgages was thought to be assisted by the governments Help to Buy scheme, which allows first time buyers to get help with their mortgage deposit.

Home building firm Persimmon also said that the Help to Buy scheme helped their sales. They are expecting a big increase this year of more than £1.4bn.

The UK economy is strengthening along with the property market and experts are predicting that the Bank of England (BoE) will slightly adjust interest rates by the end of 2015.