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Many buyers using Help to Buy scheme would have bought a home anyway – PropertyWire

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Help to Buy equity loan scheme. The Help to Buy Equity Loan scheme is available to both first-time and next-time buyers (those who have bought a property before). The scheme is available on selected new-build homes sold by developers; you cannot buy a second-hand home on the open market using the scheme.

Unfortunately, as Which? broker Blake explains, “those who bought using the Help to Buy equity loan scheme are likely to have less choice when it comes to re-mortgaging.” Many lenders are unwilling to re-mortgage your property if the value has dropped, or you want to keep part of the equity loan.

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Many buyers using Help to Buy scheme would have bought a home anyway The Help to Buy scheme has increased home ownership and housing supply but many of those using the scheme would have been able to buy a home anyway,

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The National Audit Office says many users of Help To Buy would have been able to purchase a home anyway, without the scheme – and one in 25 of them have a household income over 100,000. Its latest report also says it’s impossible to conclude whether the scheme has actually been value for money.

The Coalition has capped uptake at 10,000 loans every year, or about one in every ten loans (based on loans last year to first homebuyers). Even if none of them would have bought a home without.

Ministers have been accused of presiding over "fundamental" flaws in a key housing scheme, as the public spending watchdog found that many of those who benefited from Help to Buy could have bought.

With Help to Buy, you can buy a home with just a 5% deposit, though you can still go for a bigger deposit with Help to Buy if you like. The government then gives you a.

Whitehead & Williams analysis of 2017 sales suggests that while 38 percent of first time buyers using Help to Buy could not otherwise have bought a home, that proportion was just 33 percent for home movers.1 This suggests that restricting the scheme to first time buyers would have a less dramatic impact than simply reducing transaction volumes.