Help to Buy scheme facing the axe amid concerns it is pushing up house prices
With increasing numbers of people sleeping rough this story is quite astonishing in the way it reveals perverse public policy juxtapositions. It tells us:
The government’s Help to Buy scheme is facing the axe amid concerns it is helping wealthier households and pushing up house prices.
The Telegraph understands that ministers are planning a “fundamental review” of the policy that could see it replaced with a scheme that is “more targeted on those it is meant to be helping.”
New research published last week showed that one in five households on Help to Buy have used it to upgrade their homes rather than to get onto the housing ladder.
The disclosure comes as the government faces pressure from developers and mortgage lenders to set out plans to finance the policy beyond 2021, when the current tranche of funding ends.