Persimmon hits landmark Help to Buy house sale

Fri, 08 Nov 2013

Persimmon hits landmark Help to Buy house sale
Persimmon has revealed that the number of homes it has sold under the government's Help to Buy scheme has now passed the 3,000 mark.

While some quarters have criticised the scheme over fears it may create a housing bubble, the housebuilding firm has said that it has so far been a major beneficiary of the initiative.

The company's chief executive Jeff Fairburn said: "We believe mortgages associated with the Help to Buy equity loan scheme will remain the preferred choice for the majority of customers."

Mr Fairburn added that 90 per cent of the business' sales were attributed to first-time buyers, but the wider picture indicated that existing homeowners were also being prompted to move thanks to a returning confidence in the market.

Persimmon's third quarter sales for 2013 were 45 per cent higher than the same period in 2012, while its planned sales target for the year has already been met.

The second phase of Help to Buy was controversially launched in October - ahead of its originally planned date in January. The Financial Times recently reported that the first mortgage under the latest round of subsidised deals was completed in Kent.
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