The Help to Buy scheme ends in 2023.
More innovation is needed when Help to Buy ends in 2023, Daniel Berrisford, business development manager at Leek United Building Society, has claimed.
Berrisford said: “Since the launch of Help to Buy, it has helped first-time buyers.
“But we need more innovation once it goes to help first-time buyers continue to get onto the property ladder.
“I think you’ll see more lenders offer 95% mortgages and I think more innovation will come before Help to Buy ends.
"Our maximum loan-to-value for first-time buyers is 95%."
Graham Carter, head of lending at Beverley Building Society, said that a lot of lenders are offering solutions for first-time buyers such as springboards, guarantors, joint borrowers and sole proprietors.
Carter added: “It’s something the smaller lenders tend to specialise in. I think the first-time buyer market is definitely growing. New builds are picking up nicely.”
Both Berrisford and Carter were speaking at the Mortgage Business Expo taking place at The Barbican Centre today.
