Help To Buy Prices Stay 'Comfortably' Below Regional Price Caps

The Whathouse? New Homes Index, which tracks Help to Buy average new build prices across Britain, has revealed that prices are comfortably below the regional price cap limits in all regions. This is, Whathouse believes, a sign that concerns over the new Help to Buy scheme - which came into effect 1 April 2021 - and potential lack of affordability are not playing out.  This provides reassurance to first-time buyers now able to benefit from the scheme, with many having made the most of lockdown to save the 5% deposit required to get onto the property ladder. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/help-to-buy-prices-stay-comfortably-below-regional-price-caps.html 

What Are The New Rules For Help To Buy?

Rules have changed for the government-backed Help to Buy scheme and many buyers are confused about what the new rules mean. The new scheme came into effect this June, only first-time buyers are able to benefit from the scheme and the current plan is to end it completely by 2023. Crucially the other big change is new regional property price caps, which the government says will help them to focus on who needs the scheme the most. To benefit, the new build home being bought must be within the relevant regional property price-caps. Read what the price caps are and more on the Property Reporter website.

https://www.propertyreporter.co.uk/property/what-are-the-new-rules-for-help-to-buy.html 

No Quality Threshold For Help To Buy Funding

The government has decided not to force housebuilders to meet a specific quality threshold in order to access funding under the Help to Buy scheme. Publishing details of the terms under which the scheme will run between 2021 and when it closes in 2023, the government said the equity loan product, which has been instrumental in supporting the housebuilding industry, would be restricted to first-time buyers and subject to regional price caps. In addition, the government has laid out a series of further requirements that  builders will have to fulfil, such as signing up to the New Homes Ombudsman scheme. Read more on Housing Today.

https://www.housingtoday.co.uk/no-quality-threshold-for-help-to-buy-funding/5104509.article