Tuesday, Dec 11, 2007
Bye Bye Homebuy?
Firstrung: First time buyer mortgage products 'canned' by Advantage
Advantage has ended its Open Market HomeBuy and Flexishare products. The news comes after Yorkshire recently brought a new HomeBuy product to the market, offering a 32.5% equity loan made up of a 17.5% government contribution and 15% lender contribution...
Advantage's HomeBuy product had a 25% equity loan made up of equal 12.5% government and lender contributions.
The only remaining lenders in the scheme are Halifax and Nationwide, the government will be deciding on the products that it will continue to support when the pilot scheme ends in April next year.
Posted by converted lurker @ 11:26 AM (265 views) Add Comment
2 Comments
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1. Sevensins said...
This article is the clearest evidence that the crash is here; now it's their own money at stake they've got nervous
2. Ctabuk said...
Well I hate to tell you - but The Leeds Building Society have gone into Homebuy and I spoke with Advantage and they stated that they will be back next year. So the crash appears to be on hold.