Some of Britain's leading mortgage lenders have expressed misgivings about the government's latest "Help to Buy" initiative, leaving the state-backed banks Royal Bank of Scotland and Lloyds as the only pair to have endorsed the scheme. Many building societies, which have underpinned the mortgage market over the past year or so as banks have pulled back, are also reluctant to commit to the new Help to Buy scheme. The bank says it is "Supportive" and is understood to be considering launching a product under the scheme as early as next week. One Treasury aide pointed out that if HSBC did participate, lenders representing more than 40 per cent of new mortgage lending would be taking part in the scheme.
Source: http://www.ft.com/cms/s/0/e7a3a312-2ac3-11e3-8fb8-00144feab7de.html?ftcamp=published_links%252Frss%252Fpersonal-finance%252Ffeed%252F%252Fproduct
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