Government ‘remains committed’ to Help to Buy

No early end for 5% deposit scheme
Government remains committed to Help to Buy
September 20th, 2017

The government has said it will remain committed to the Help to Buy Equity Loan Scheme until 2021, despite reports that it could be scrapped ahead of schedule.

The scheme, which enables homebuyers to purchase newly built homes with a deposit of only 5 per cent, has aided more than 120,000 home purchases since its launch in 2013. It has, however, proved somewhat controversial because of its contribution to profits and dividend payouts at listed house builders

£8.6 billion has been committed to the Help to Buy Equity Loan Scheme to continue to support homebuyers and stimulate housing supply. A source close to the scheme said rumours of an early end were ‘simply incorrect.’

The Department for Communities and Local Government has also said: ‘The government also recognise 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.’

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