LONDON, Sept 29 British finance minister Philip
Hammond said on Thursday he planned to close a government-backed
mortgage guarantee scheme, part of its Help to Buy housing
programme, at the end of 2016 as previously scheduled.
Hammond, in a letter to Bank of England Governor Mark Carney
which was published on the government's website, said the high
loan-to-value mortgage market had become less reliant on the
scheme while the government remained committed to the overall
Help to Buy programme and other supports for the housing market.
The government of former prime minister David Cameron
launched the Help to Buy mortgage guarantee scheme in late 2013
to help home-buyers who could afford mortgage repayments but
lacked a large deposit.
(Reporting by William Schomberg, editing by David Milliken)