Property News · July 30, 2018

Is it right to be cautious about the help-to-buy scheme?


Help-to-buy is not an option if you don’t want a new-build home – and interest rates can be higherQ In your opinion is help-to-buy a good option? Both my sons – who are 30 and 35 – have been renting for 15 years but now want to get on the property ladder. They have looked into the help-to-buy scheme in some depth but remain unsure. I’ve read such negative things about the help-to-buy scheme and don’t want them to live a life of fear and stress should they go down this path. Is it better to save longer for a bigger deposit buying an older property?DMA I think your sons are right to exercise caution about the help-to-buy scheme. And if they can afford to purchase property without using help-to-buy, it would make a lot of sense. And that’s not just my opinion. In the Help to Buy Buyers’ Guide published by the Homes and Communities Agency (HCA) it says: “If it looks like you can already secure a 90% mortgage you should think carefully whether a help-to-buy equity loan is right for you. There may be better options for you to consider.” Continue reading…

Source : theguardian.com
Read more…Is it right to be cautious about the help-to-buy scheme?

You may also like...