The Government brought in an ill-thought out ‘help-to-buy’ scheme in the Budget, with the intention of assisting first-time buyers to access the property ladder.
The scheme was received with widespread criticism, however, with many experts pointing out that it’d do nothing but drive property prices further upwards.
Today, the Government is set to announce a series of changes to the scheme, to address some of the issues raised. Among the expected changes, the mortgage percentage threshold and the value of property to which the scheme applies are likely to be amended.