Home Residential Property Four in 10 younger Brits will apply for controversial Help to Buy property scheme

Four in 10 younger Brits will apply for controversial Help to Buy property scheme

by Deleted Subscriber Content
23rd Jan 14 9:28 am

Some 39% of those aged 20 to 40 are planning to apply this year for the government’s controversial Help to Buy scheme, which lets people buy houses with just a 5% deposit.

The research, from Experian, said the average deposit saved by people in that group is £9,590.

The scheme lets people buy homes worth up to £600,000, and the minimum deposit you have to save is £5,000.

Justin Urquhart Stewart: Don’t worry about a housing bubble – it’s “Help to Buy” you should fear

Help to Buy has come under fire from critics, who warn that it is economically risky for the country.

They warn it could lead to unsustainable debts for the UK in the future, or major defaults on loan repayments.

Cable: Time for government to review controversial Help To Buy scheme

Two-thirds of the mortgage market in this country will offer Help to Buy products this year.

 

Read all about Help to Buy in our dedicated feed

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