Help to Buy has pushed up house prices and helped rich get on the housing ladder

THE Government's Help to Buy equity loan has pushed up house prices and helped rich buyers purchase more expensive homes.

Over the whole scheme, which is only available on new-builds and is not means-tested, 10 per cent of buyers had household incomes of over £80,000, or over £90,000 in London.ONE of the most popular ways to get a foot on the housing ladder, Help To Buy equity loans can be used to buy new-build properties only.

Last year, it was announced that the scheme will be restricted to just first-time buyers from 2021 with lower purchase price limits tailored to regional property markets. A spokesman for the Home Builders Federation said Help to Buy has delivered against its objectives, to increase home ownership, boost housing supply and generate economic activity.

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Source: TheSun - 🏆 64. / 61 Read more »