City minister welcomes first Help to Buy HPP completions
We recently welcomed Andrea Leadsom MP, Economic Secretary to the Treasury (City Minister), to our Birmingham offices to celebrate the first two completions of Home Purchase Plans, backed by the Government’s Help to Buy HPP guarantee scheme.
Al Rayan Bank worked closely with the Government to develop the Help to Buy: Home Purchase Plan (HPP) Guarantee Scheme, the Sharia compliant equivalent to the Help to Buy: Mortgage Guarantee Scheme. The scheme enables HPP providers to enjoy the same level of Government support as conventional mortgage providers and further widens the choice for consumers, with smaller deposits to purchase property.
The Bank became the first UK provider to offer a HPP backed by the scheme when it launched its 90% finance to value HPP in September 2014.
Commenting on the visit, Sultan Choudhury, CEO of Al Rayan Bank said, "It is an honour to welcome Andrea Leadsom MP, to our Birmingham offices, which has been our home for over a decade. In the last ten years the Bank has pioneered Sharia compliant retail banking in the UK. It’s a real pleasure to be able to showcase our work and highlight some of the Bank’s achievements, including the first completions of the Help to Buy backed HPP."
If you'd like to find out more about our HPP, backed by the Help to Buy: HPP Guarantee Scheme, click here or call us on 0800 4086 407