The Industry calls for clarity on Help to Buy equity loan scheme

The property sector has called for clarification on what’s going to happen to the Help to Buy equity loan scheme after 2023.

A housebuilder, trade body and start-up all raised the issue after the election result.

John Newcomb, chief executive of The Builders Merchants Federation (BMF), said:

“Early clarification on what the future holds for the ‘Help to Buy’ Scheme would be very welcome.”

And Kate Davies, executive director of the Intermediary Mortgage Lenders Association, said:

“The government needs to support a new dialogue with lenders and housebuilders on what happens when Help to Buy ends in 2023.”

Meanwhile Vadim Toader, founder and chief executive of Proportunity, a fintech start up offering Help to Buy-style loans, said:

“Help to Buy hits a sticking point in that it only supports buyers of new builds.

“More collaboration with the private sector could be the key to expanding the remit of the scheme.”

Kindly shared by Property Wire