Help to Buy extended to 2020

Wed, 19 Mar 2014

Help to Buy extended to 2020
The Chancellor George Osborne has said that the Help to Buy scheme will be extended until 2020, because "Britain has got to get building." The scheme was going to run only until 2016.

Mr Osborne announced the extension to the BBC and said that the longer time frame will help build 120,000 new homes.

"This means more homes, this means more aspiration for families, this means economic security and economic resilience", he said on a BBC show.

Vince Cable has long decried the scheme, and says that the upper price cap for properties that are eligible for the Help to Buy scheme should be dropped from £600,000 to £400,000 to stop the scheme being "high jacked by the rich", and stopping it from helping the working class and keyworkers whom it was created to help. He described the scheme as "a damp squib".

Osborne is set to announce the change in this year's annual budget, alongside an increase to the personal income tax allowance to £10,500.

The extension is reported not to apply to the second Help to Buy phase, the Mortgage Guarantee. Currently, this will end in 2016 as planned.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch