Help To Buy Scheme Still Unknown To Some Buyers
A recent Rightmove Consumer Confidence survey has revealed that one in four potential home-movers were unaware of the Help To Buy Phase Two extension. The survey which was completed by over 40,000 potential home-movers also found that some responders had not even heard of Help To Buy at all.
Phase Two of the Help To Buy scheme was rolled out in October by Prime Minister David Cameron a few months earlier than the planned 2014 launch. The main focus of Phase Two was the Mortgage Guarantee Scheme which means that existing home owners and first-time buyers can now purchase resale or new build properties with as little as a 5% deposit.
Here at George F White we have a dedicated Help To Buy section on our website (click here to view it) where we provide an outline of the scheme and what the two phases are all about. In addition our staff are all up-to-speed on the scheme and can offer advice and answer any questions you may be having about the scheme.
It is early days with Phase 2 of the Help To Buy scheme only a couple of months old so the overall challenges, limitations and benefits are yet to be fully understood and won’t be clear until early 2014.
Without a doubt the announcement and subsequent press coverage of Help To Buy has helped raise confidence and generated a positive buzz around the property market. However for there still to be a large section of active house-buyers still unaware of the scheme more work needs to be done by the Government to increase awareness and uptake. This would help remove the confusion some buyers currently have and help them get the most out of a scheme which will give them a good start on the property ladder.
If you have any questions regarding the Help To Buy Scheme please contact your nearest office who will be delighted to help you.