The Government confirms its plans to continue to support Help to Buy following speculation that the schemes future.
There had been concerned expressed that Help to Buy was creating housing bubble, however these fears were dispelled as official figures released show that Help to Buy has only been responsible for 4 per cent of house purchases since April last year.
The Queen said in her annual speech: “My ministers will continue to promote the Help to Buy and Right to Buy schemes to support home ownership.”
Speaking from the House of Lords, the Queen continued: “To strengthen the economy and provide stability and security, my ministers will continue to reduce the country’s deficit, helping to ensure that mortgage and interest rates remain low.”
Although Help to Buy has only been responsible for 4 per cent of house purchases, the scheme has been a lifeline for buyers in the North West.
* 7,313 homes have been sold so far under the Help to Buy mortgage guarantee scheme
* 80% of the properties sold went to first-time buyers.
* 14% of buyers in the North West.
Contact us today on 0161 925 3255 to find out if Help to Buy could help you.