In his Autumn Statement Osborne announced Virgin and Aldermore as the latest lenders to join the scheme and reaffirmed the Treasury’s decision to give greater power to the Bank of England to deal with “asset bubbles” if they began to threaten stability.
Charles Haresnape, managing director of residential mortgages at Aldermore, said: “I am delighted to announce Aldermore’s participation in Help to Buy guarantee.
“We are committed to lending to homeowners in the UK, especially those with small deposits, to get on the housing ladder and those who are unable to access mortgages from traditional high street lenders, despite being creditworthy.
“We are the first and only bank in the scheme to offer remortgages so far."
The Chancellor said under the current government Right to Buy applications had doubled and it intended to continue the expansion of the scheme expecting the same success from Help to Buy.
