Hundreds of first-time buyers who are purchasing a property using the Government’s Help to Buy Scheme are at risk of losing out on the homes they have bought as building delays push developments past the Government’s deadline.
However, a lesser-known rule states that all new-build homes must be built by December this year, which means those who have already been approved for a loan will miss out if their development is not complete by this stage. “We were really, really excited and now we’re just plagued by these delays and the deadlines. We’re worried we’re not going to make it after waiting so long, a year and a half. You can imagine. All of our hopes and dreams are just shattered now,” she toldWith mortgage rates rising, Ms Muresan does not know when she will get the chance to buy a property again, despite “renting for 10 years and saving”.
As the property is in London, Mr Cook, who works in IT, was able to borrow 40 per cent of the purchase price from the Government, which he said works out at roughly £160,000. She had hoped to move to the area so that the family could have more access to green space and her daughter could attend a good secondary school, but will not be able to affordable the mortgage payments without the Help to Buy loan.
Please do not fall into the Help To 'Buy' trap. You are tenants, with less rights than tenants, a merciless landlord that will ruin your financial future & a residence you will not be able to sell, you will be trapped. Read about the nightmare stories, & save yourselves.
Where the flip were the popular press when these kafkaesque schemes were being dreamt up by Big 4 consultancies, paid for by the UK taxpayer?
Where the flip were the popular press when these kafkaesque schemes were being dreamt up by Big 4 consultancies, paid for by the UK taxpayer?
Trust me, they’ve dodged a bullet.
'Help to Buy' is a complete misnomer. It should be called 'Help to Sell' for HomeBuildersFed companies who are looking for a big payday. It's proven to be a trap, as this insidehousing investigation shows 👇
🤯 Anyone even thinking about using the Help To Buy scheme, should read this and think again. People are trapped in HTB homes that aren't fire-safe, literally unable to redeem their loans by any means & paying extortionate interest in the meantime 👇