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23/07/2013
Second Home Buyers Excluded From Help To Buy Scheme
The second stage of the Help to Buy scheme will be closed to second home buyers, George Osbourne has said.
The Help to Buy scheme was launched four months ago to provide equity loans to people to help buy new homes.
The second stage of the scheme is due to begin next January, with buyers needing just a 5% deposit to buy a home.
Stage two is aimed at helping people buy existing homes.
Ahead of a meeting with homebuilders and mortgage lenders to discuss the details of stage two, it was confirmed that certain restrictions would be placed on who could avail of the help being offered.
To be excluded are buyers of second homes, buy-to-let landlords and foreign buyers with no history of property owning in the UK.
(MH/CD)
The Help to Buy scheme was launched four months ago to provide equity loans to people to help buy new homes.
The second stage of the scheme is due to begin next January, with buyers needing just a 5% deposit to buy a home.
Stage two is aimed at helping people buy existing homes.
Ahead of a meeting with homebuilders and mortgage lenders to discuss the details of stage two, it was confirmed that certain restrictions would be placed on who could avail of the help being offered.
To be excluded are buyers of second homes, buy-to-let landlords and foreign buyers with no history of property owning in the UK.
(MH/CD)
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Stamp duty must be raised to help first-time buyers: Nationwide
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