UK finance minister confirms end to support for high loan-to-value mortgages

LONDON, Sept 29 (Reuters) - British finance minister PhilipHammond said on Thursday he planned to close a government-backedmortgage guarantee scheme, part of its Help to Buy housingprogramme, at the end of 2016 as previously scheduled.

Hammond, in a letter to Bank of England Governor Mark Carneywhich was published on the government's website, said the highloan-to-value mortgage market had become less reliant on thescheme while the government remained committed to the overallHelp to Buy programme and other supports for the housing market.

The government of former prime minister David Cameronlaunched the Help to Buy mortgage guarantee scheme in late 2013to help home-buyers who could afford mortgage repayments butlacked a large deposit. (Reporting by William Schomberg, editing by David Milliken)