🏘️ What could a Help to Buy 2.0 look like? Reports suggest the Government is putting the scheme back on the table ⬇️ CallumCMason chats to experts
for money, which would be better spent on increasing housing supply”, the report from the built environment committee said.
Under the old scheme, applicants had to be buying a new-build property sold by a Help to Buy registered homebuilder, and Hollingworth said this focus on new build was “intended to help ensure more new property would be built”.Experts are divided on whether the new scheme should be extended beyond the new build properties it previously covered.that this could be the case after critics accused developers of using the scheme to inflate the price of new properties.
“The previous scheme benefits developers who were able to sell properties at a higher price compared to existing stock of a similar description in the area”, he said. “That would need thought given the suggestion it could be available on second hand stock which would no doubt expand the scope of the scheme but without necessarily increasing supply”, he added.understands that an equity loan scheme, similar to the previous Help to Buy policy, is under serious consideration by the Government, some experts have expressed a degree of scepticism as to whether the eventual policy will resemble what we know as Help to Buy.
He added that it is difficult to know the seriousness of the exact policy without being at the “very heart of government”, but that it is an indication that housing policy is set to be a “big feature” of next year’s general election.Richard Donnell, executive director at Zoopla, said that he did not expect to see a return of the equity loan scheme.
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