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Help to Buy passes 4,000 sales in first two months

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The Government’s Help to Buy scheme is exceeding early targets after 4,000 new homes have been sold since its launch two months ago.

The Financial Times reports figures released by the Home Builders Federation show the scheme has significantly increased the sale of new build homes, after it was announced in the 2013 Budget.

Through Help to Buy, the Government lends buyers up to 20 per cent of the value of a new-build home priced below £600,000, interest-free for a five-year period.

HBF figures show there have been 4,000 registrations for the scheme, amounting to around 500 per week since launch.

It adds that 95 per cent of registrations have seen money changed hands.

Home Builders Foundation executive chairman Stewart Baseley told the FT: “The equity loan scheme helps consumers overcome the deposit barrier and as a result the scheme will undoubtedly lead to an increase in house building – already we are seeing companies revise their projected build levels as a direct result of the scheme. This in turn will create jobs and deliver an economic boost.”

The Government plans to use Help to Buy to fund 74,000 sales in three years.

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Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Becoming a headcase IFA 6th June 2013 at 9:30 am

    This is not the sort of scheme the tax payer should be funding.

  2. Great idea that is working but why can’t good old fashioned MIG polices be used?

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