The Help to Buy scheme was designed to help first time buyers with a deposit and a loan. Buyers have to find only 5% deposit and can borrow up to 20% of the value of the house (within limits), repayable on sale.
The current criticism surrounding the scheme is centred on the accompanying rise in house prices that has taken place since the scheme was introduced and more buyers hit the market. General house prices have increased by 0.4% in May with a 15% rise in the number of first time buyers in April, according to Halifax.
If you are a potential first time buyer, the scheme is well worth investigating. If you're thinking of moving up or down the market it might be worth taking the knock-on effect of this scheme on the overall market into account in your timing decision.
We recommend 2 Estate Agents in Abingdon if you want to chat to someone - both have an excellent reputation in Oxfordshire and you can read customer reviews for each.
Stewart Simpson at Davis Tate
Warrick Baldwin at Hodsons
Member since: 10th July 2012
I love Abingdon and am passionate about promoting the businesses and events that are centred there. I want everyone to realise how great they are and how we should all be using them!