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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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Censeo Financial is a trading name of Censeo Ltd who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. Censeo Limited is registered in England and Wales, company registration number 06453977, the Registered Address 11b Newton Court, Pendeford Business Park, Wolverhampton, WV9 5HB.

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