View more on these topics

Help to Buy 1 extension adds almost £1bn to builders’ market cap

The UK’s five largest house-builders all saw their share prices rise sharply on Monday, after Chancellor George Osborne announced his plan to extend the Help to Buy equity loan scheme.

According to Reuters, the price hike in shares for Persimmon, Barratt Developments, Taylor Wimpey, Berkeley Group Holdings and Bellway, added more than £930m in value over the day.

Share price rises 17 March 2014 – UK Top 5 Housebuilders
Company Open  High
Persimmon  1352.00p 1406.57p
Barratt Developments 421.50p 435.11p
Taylor Wimpey 119.20p 122.16p
Berkeley Group 2701.00p 2756.00p
Bellway  1569.00p 1622.00p

The equity loan scheme – the first of two Help to Buy scheme phases – provides Government assistance for borrowers seeking to purchase a new-build home for up to £600,000 and has provided a significant boost to property developers.

Originally due to end in 2016, the Help to Buy 1 scheme has now been extended until 2020 with an extra £6bn being allocated by the Government. It is aiming to contribute an extra 120,000 homes to the housing stock in Britain.

Recommended

Bob-Young-700.jpg
1

CHL sees complaints drop by 26% in 2013

Dormant specialist lender CHL Mortgages received 26 per cent fewer complaints in 2013 than it did the year before. Releasing its complaints figures today, the lender said it received 143 complaints last year, down from 193 in 2012. It revealed it had 22 decisions from the Financial Ombudsman Service last year, of which only three […]

MS Leader

MS Leader: H2B is far from perfect

The Chancellor George Osborne certainly took everyone by surprise at the weekend with his big announcement on Help to Buy equity loans, with the extension of the scheme until 2020. Help to Buy 1 has been a rip-roaring success, with the recent National Audit Office report showing 12,875 had been helped into homeownership and a […]

Izard leaving Saffron after just 16 months as head of mortgages

Saffron Building Society has confirmed that head of mortgages Peter Izard is leaving the mutual after 16 months in the job. Izard joined Saffron in November 2012, with responsibility for its branch and intermediary distribution channels. Prior to that, he spent over four years as corporate accounts director at the now defunct Portillion and was […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Close

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now