WeX Posted November 28, 2013 Share Posted November 28, 2013 Does this mean the scheme that was meant to be starting in January, but they brought forward, is being scaled back? I.e. the 95% mortgages scheme? BoE reduces mortgage lending support scheme http://www.bbc.co.uk/news/business-25137444 Link to comment Share on other sites More sharing options...
Mecky Posted November 28, 2013 Share Posted November 28, 2013 Time will tell. When the news first broke about the scheme it immediately created a housing bubble and people with property were greedily fingering their lapels. It's quite possible it had the opposite effect of what the scheme was supposed to do, which I though was to make cheaper mortgages for first-time buyers Link to comment Share on other sites More sharing options...
WeX Posted November 28, 2013 Author Share Posted November 28, 2013 Time will tell. When the news first broke about the scheme it immediately created a housing bubble and people with property were greedily fingering their lapels. It's quite possible it had the opposite effect of what the scheme was supposed to do, which I though was to make cheaper mortgages for first-time buyers I suspect you're correct. The scheme should have been only for first time buyers, but this would have narked the middle classes who wanted an opportunity to add more properties to their pension portfolios. Link to comment Share on other sites More sharing options...
Danny_Boy Posted November 28, 2013 Share Posted November 28, 2013 I suspect you're correct. The scheme should have been only for first time buyers, but this would have narked the middle classes who wanted an opportunity to add more properties to their pension portfolios. Not quite, the help to buy scheme and the funding for lending scheme are two different things. The help to buy scheme is available to first time buyers and home movers, not buy to let purchases so the adding more properties to a portfolio was never an issue at all. It was there to get the housing market moving, helping second time buyers move up the ladder and leaving more first time buyer properties available to first time buyers. Link to comment Share on other sites More sharing options...
WeX Posted November 28, 2013 Author Share Posted November 28, 2013 Not quite, the help to buy scheme and the funding for lending scheme are two different things. The help to buy scheme is available to first time buyers and home movers, not buy to let purchases so the adding more properties to a portfolio was never an issue at all. It was there to get the housing market moving, helping second time buyers move up the ladder and leaving more first time buyer properties available to first time buyers. Oh thanks for the clarification. Good to hear this does not mean a reduction in the help to buy scheme. Link to comment Share on other sites More sharing options...
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