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'Help to Buy equity loan scheme to close to applicants in three months – here's what you need to know'
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MSE News: Help to Buy equity loan scheme to close to applicants in three months
MSE_Petar
Posts: 363 MSE Staff
First-time buyers have just three months left to apply for a Help to Buy equity loan to fund a new-build property purchase. Almost 10 years since its original launch, the Government's equity loan scheme will close for good in March 2023, but anyone who wants to take part needs to apply by 31 October 2022.
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Comments
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Why have they closed it?0
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Liz Truss is currently promising to make mortgages much easier to come by, so I expect there will be a new scheme along soon and the milk and honey will flow again. (Which one is the very doubtful smiley? This one?
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Will there be a last minute rush to get into this do you think, what will be the effect on the wider market?0
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They should have closed Help to Buy 9 years ago, it's a ridiculous scheme which has inflated house prices and pumped billions of taxpayers money into the pocket of the housebuilders. Good riddance to it and hopefully they will scrap all the H2B ISAs and LISAs next but more likely Tragic Truss will come up with another hairbrained scheme to pour public money into private housing.
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Doesn`t it work out really badly for buyers if interest rates rise?0
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Is there a link to what she said?Woolsery said:Liz Truss is currently promising to make mortgages much easier to come by, so I expect there will be a new scheme along soon and the milk and honey will flow again. (Which one is the very doubtful smiley? This one?)0 -
Its not a bad scheme, but down side is not easy to pay off. And costs about £1k to redeem the loan in costsDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Does this affect the HTB ISA?0
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Will new builds start falling in price when this ends?0
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https://www.google.com/search?client=firefox-b-d&q=Truss+promises+more+housingSarah1Mitty2 said:
Is there a link to what she said?Woolsery said:Liz Truss is currently promising to make mortgages much easier to come by, so I expect there will be a new scheme along soon and the milk and honey will flow again. (Which one is the very doubtful smiley? This one?)
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