Midlands tops Help to Buy mortgage demand table

Mon, 19 Aug 2013

Midlands tops Help to Buy mortgage demand table
New figures leaked to the Financial Times (FT) have shown that the Midlands is the region with the most demand for Help to Buy products.

The Midlands is a hub of manufacturing and production in the UK and these sectors have seen large gains in the last few months. This new found stability could be passing on a level of financial security to workers that leaves them confident a home purchase is a good idea.

In fact, more than a quarter of the overall demand for Help to Buy is from the region, with the east of England and south-east of England just behind.

London is the least enthusiastic area of the country when it comes to the government-backed product, with only 725 reservations for new-build properties in the capital.

Tanya Powley, the FT reporter that broke the news, said: "This breakdown goes to show that the first part of the government's housing stimulus package is helping to boost activity outside London."

Coalition ministers hope the Help to Buy scheme will increase demand in the construction sector, which has struggled since the recession.
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