Legal & General (L&G) Mortgage Club has called on the mortgage industry to work together to support the new build sector ahead of the end of the Help to Buy (HTB) scheme on 31 October.

According to government figures, the HTB scheme has supported close to 360,000 new build housing transactions since it launched in 2013. 

In response to this, L&G is holding a New Build Forum for the industry to consider the latest economic developments, examine the rising cost of living for borrowers looking to buy a new build property, and discuss the current market options available after the HTB scheme ends. 

Sessions at the event will also cover buy-to-let (BTL) and conveyancing. 

L&G Mortgage Club head of lender relationships Danny Belton says: “Although the end of HTB has been widely publicised, the wind-down of the scheme has left many potential borrowers confused about what their options are for the future.”

“In order to best support these customers, advisers must have clarity from the mortgage industry on what comes next and currently there is no clear successor to HTB.”

“This is an opportunity for mortgage lenders to work together to shape the future of our industry and step up to support the new build sector.”