By Scrapping Help to Buy the Government is Cutting its Nose Off

Posted by Colliers on 5th October 2022 -

The landmark property purchase scheme for first-time buyers is coming to an end but the Government should think again, says Andrew White, Head of Residential UK and International (Asia) at Colliers. 

Imagine a scheme which supported house building, supported first-time buyers, chimed with the national obsession of home ownership, and made the Government money for nothing.

It sounds fanciful, doesn’t it, until you realise this is exactly what the soon-to-be halted Help To Buy scheme offered the nation.

After 6pm on Hallowe’en, this quite radical policy will become a historical entry in the book of ‘Inexplicably Jettisoned Good Ideas’, and possibly an easily avoidable political own-goal for the newly installed Liz Truss government.

Since its inception in April 2013 to the end of March this year, Help To Buy has supported 361,075 property purchases.

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