Chancellor announces plans to prolong the life of the housing loan scheme
George Osborne has announced plans to extend the government鈥檚 Help to Buy scheme to 2020.
The government-backed loan scheme had been due to end in 2016, but the Chancellor now wants to extend it for another four years.
The Treasury estimated the move would result in a further 拢6bn of investment and help 120,000 more households to purchase a new-build home.
The scheme has so far helped 25,000 households to buy or reserve a new home and many housebuilders have stated that it has helped revive revenues and profits in the market.
Alongside the extension of Help to Buy the Chancellor announced plans for 拢200m of public investment in a housing development in Ebbsfleet in Kent, which would provide 19,000 homes on brownfield land.
No comments yet