Help to Buy scheme extended

The Help to Buy equity loan scheme, which offers a 20% government loan (40% in London) to buyers of new-build properties, has been extended to 2023 and the upper price cap for a property to be eligible for the scheme will increase. The Government will have lent £22bn under the scheme to 360,000 homeowners by April 2021. Budget documents said: "The Government does not intend to introduce a further Help to Buy Equity Loan scheme after March 2023". For the final two years of the scheme, the government will invest another £7.2bn in equity loans to homebuyers, but will restrict the scheme to first-time buyers and cap the prices of the homes that can be bought using its state-backed equity loans.

The Daily Telegraph (29/10/2018)