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MSE News: Help to Buy equity loan scheme to close to applicants in three months

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.

Read the full story:
'Help to Buy equity loan scheme to close to applicants in three months – here's what you need to know'

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Comments

  • Sarah1Mitty2
    Sarah1Mitty2 Posts: 1,838 Forumite
    First Anniversary First Post Name Dropper
    Why have they closed it?
  • Woolsery
    Woolsery Posts: 1,535 Forumite
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    edited 30 July 2022 at 8:59AM
    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?  :*)
  • Sarah1Mitty2
    Sarah1Mitty2 Posts: 1,838 Forumite
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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?
  • demontfort
    demontfort Posts: 263 Forumite
    First Anniversary Combo Breaker First Post
    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.
  • Sarah1Mitty2
    Sarah1Mitty2 Posts: 1,838 Forumite
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    Doesn`t it work out really badly for buyers if interest rates rise?
  • Sarah1Mitty2
    Sarah1Mitty2 Posts: 1,838 Forumite
    First Anniversary First Post Name Dropper
    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?  :*)
    Is there a link to what she said?
  • chanz4
    chanz4 Posts: 10,888 Forumite
    First Anniversary Name Dropper First Post Xmas Saver!
    Its not a bad scheme, but down side is not easy to pay off. And costs about £1k to redeem the loan in costs
    Don'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.
  • rigolith
    rigolith Posts: 2,615 Forumite
    First Anniversary First Post Name Dropper
    Does this affect the HTB ISA?
  • Sarah1Mitty2
    Sarah1Mitty2 Posts: 1,838 Forumite
    First Anniversary First Post Name Dropper
    Will new builds start falling in price when this ends?
  • Woolsery
    Woolsery Posts: 1,535 Forumite
    First Post Photogenic Name Dropper
    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?  :*)
    Is there a link to what she said?
    https://www.google.com/search?client=firefox-b-d&q=Truss+promises+more+housing


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