The Government's Help to Buy scheme appears to have "done what it says on the tin" and is now the most popular way for first time buyers to get onto that all important first rung on the property ladder. Deposit funds being the biggest hurdle to overcome the scheme which guarantees a larger deposit when 5% is provided by the buyer has been a godsend to many and with the Help to Buy ISA which tops up a deposit payment coming soon things can only get better !
The UK Government’s Help to Buy scheme is now the most popular way for first time buyers to get on to the housing ladder, new research suggests. As well as helping first time buyers who can afford to pay a mortgage but are struggling to save a deposit it eases the pressure on families to plug gaps in savings, says the study from mortgage and loans provider Ocean Finance. It found that half of first time buyers would use the Help to Buy equity loan or mortgage guarantee schemes to overcome the barrier of having a small deposit at a time when deposits are the biggest barrier to getting on the housing ladder.