Concern over Help to Buy
23 April, 2013
There is concern that the Government could face ‘large losses’ under its Help to Buy scheme because it has failed to take into account the “unintended consequences” of the scheme.
The Treasury Select Committee’s Budget 2013 report, expressed concern that the Treasury now has an active role in the mortgage market and a vested in interest in rising house prices
The Government is offering £12bn worth of guarantees to lenders to fund £130bn of mortgage lending. If homes are repossessed and lenders lose a sum of money that is higher than the borrower’s deposit they can access Government guarantees meaning taxpayers will lose out.
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