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Government tries to stamp out speculation over Help To Buy

The government has poured cold water over industry speculation that Help To Buy could be phased out or significantly modified between now and its official end in  2020.

Last week the commercial property publication Property Week suggested that a review of the Help To Buy equity scheme was underway, led by independent consultants from the London School of Economics.

This led to widespread speculation that it could be restricted to lower priced properties and/or to first time buyers.

However, the Department of Communities and Local Government has now taken the unusual step of releasing a statement purely to address media speculation. It says: 

"We remain committed to the Help to Buy equity loan scheme to 2021, ensuring it continues to support homebuyers and stimulate housing supply.

"The government also recognise the need to create certainty for prospective home owners and developers beyond 2021, so will work with the sector to consider the future of the scheme.

"The department regularly reviews the Help to Buy equity loan scheme, with the last review taking place in 2015. To infer from this that the Help to Buy equity loan scheme will be cancelled is simply incorrect."

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