It’s good news that the Bank of England is being given more
power to curb Help to Buy if it looks like the scheme is fuelling a house price
boom. The Bank's financial policy
committee (FPC) will review the scheme every year and could recommend that the
£600,000 cap is reduced. If there is evidence that Help to Buy is increasing
prices rather than supply then government should consider amending the
guarantee scheme or even scrapping it, either across the whole country or
targeted by areas based on what the evidence shows. If the government really
wants to make housing more accessible and affordable, it needs to commit to a
more active role in building new homes. Read more on the CIH website.
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