The early launch of the Help to Buy mortgage guarantee has seen it overtake Help to Buy equity loans in terms of public awareness, according to new findings from Mortgage Advice Bureau,
More than one in three adults (37%) had heard of the equity loan scheme back in September, compared with 32% for the mortgage guarantee. Since then awareness of Help to Buy’s second phase has leapt to 43% following its launch in October, while the level of recognition for the equity loan scheme has remained the same.
The awareness gap is even more pronounced among people looking to get a new mortgage in the next year, with the guarantee enjoying 52% awareness compared with 41% for equity loans.
Help to Buy equity loans are available exclusively for new build properties, while the guarantee supports mortgages of up to 95% on either new build or existing homes.
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