Update on Help to Buy
The Home Builders Federation claims that huge demand in the first two months of the Government’s Help to Buy scheme has already boosted the construction industry. Around 4,000 people so far have reserved a new home using the Help to Buy scheme.
The second part of Help to Buy is due to kick in next January, and will offer mortgage guarantees to those with only a 5% deposit. The Government expects this part of Help to Buy, which will apply to both new and secondhand homes, to generate 190,000 sales a year.