Wednesday, July 24, 2013
Help to Buy scheme – never let the truth get in the way of a good story!
The announcement yesterday of plans to extend the existing Help to Buy scheme to include ALL houses worth up to Â£600,000 was met with howls of horror and warnings of an impending price explosion from all corners of the industry. Under the scheme, buyers provide a 5% deposit and the government essentially provides another 15% deposit by guaranteeing that proportion of the mortgage. There were two main worries voiced.