You are here: Home - Mortgages - First Time Buyer - News -

Government pledges to continue Help to Buy until 2021

0
Written by: Owain Thomas
07/08/2017
The government has confirmed it will support the Help to Buy scheme until at least 2021 and will work with the industry to consider its future.

It was forced to issue the statement following reports late last week that it had begun a review of the scheme which could lead to it being ended early.

The report prompted shares in house builders to drop sharply on Friday morning as around 35% to 40% of new build homes are purchased using Help to Buy.

In its statement, the Department for Communities and Local Government (DCLG), said: “We remain committed to the Help to Buy equity loan scheme to 2021, ensuring it continues to support home buyers and stimulate housing supply.

“The government also recognises the need to create certainty for prospective home owners and developers beyond 2021, so will work with the sector to consider the future of the scheme.”

Regular reviews

DCLG added that the department regularly reviewed the Help to Buy equity loan scheme, with the last review taking place in 2015.

“To infer from this that the Help to Buy equity loan scheme will be cancelled is simply incorrect,” it concluded.

Speaking at the MyHomeMove conference in May, Barratt Homes’ head of mortgage lender relations Adrian MacDiarmid said the business was already planning developments for 2021 with the expectation the scheme would end.

“Land we are buying now we won’t be building units on until 2021 – so we’re taking decisions now based on the lack of availability of Help to Buy,” he said.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

  • According to @YourMoneyUK the #Govt is considering a Care ISA’ which would be exempt from #inheritancetax. Could th… https://t.co/hPVZZfdyDr
  • RT @unitetheunion: “We need tough action against unscrupulous debt collection agencies who prey on people’s misery to ramp up the debt thro…
  • RT @unitetheunion: “We need tough action against unscrupulous debt collection agencies who prey on people’s misery to ramp up the debt thro…
Read previous post:
prepaidcurrency
Got a prepaid currency card for your holiday? Watch out for this fee

If you’ve taken out a prepaid currency card especially for your summer holiday, make sure you know exactly if and...

Close