Estate agents report increase in viewings due to Help to Buy 16th October 2013

Online estate agency My Online Estate Agent has reported a 28 per cent increase in its number of viewings since the Government's early launch on 8 October of the second phase of its Help to Buy scheme, this is compared to the previous week's viewing figures.

Richard Patterson, Director of My Online Estate Agent and hands on landlord, said:

“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.”

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 four workings days and booking 5,000 mortgage appointments within just three 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.

“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.”