{"id":2638,"date":"2015-07-03T11:37:40","date_gmt":"2015-07-03T11:37:40","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/help-to-buy-faces-fresh-criticism\/"},"modified":"2018-02-21T09:39:52","modified_gmt":"2018-02-21T09:39:52","slug":"help-to-buy-faces-fresh-criticism","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/help-to-buy-faces-fresh-criticism\/","title":{"rendered":"Help-To-Buy Faces Fresh Criticism"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><!-- [if gte mso 9]&gt; 0 0 1 351 2005 Property Data MEdia LLP 16 4 2352 14.0 &lt;![endif]--><!-- [if gte mso 9]&gt; Normal 0 false false false EN-GB JA X-NONE &lt;![endif]--><!-- [if gte mso 9]&gt; &lt;![endif]--><!-- [if gte mso 10]&gt; \/* Style Definitions *\/table.MsoNormalTable{mso-style-name:\"Table Normal\";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-parent:\"\";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:\"Times New Roman\";}&lt;![endif]--><!--StartFragment--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">The Government&#8217;s flagship <a class=\"wl-entity-page-link\" title=\"Public housing\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/public-housing\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/public_housing;http:\/\/rdf.freebase.com\/ns\/m.0184vk;http:\/\/dbpedia.org\/resource\/Public_housing\" >housing policy<\/a>, the Help-To-Buy scheme, is facing fresh criticism from the Public Accounts Committee (PAC) who are concerned that H2B presents serious medium and long-term risks to the economy and the <a class=\"wl-entity-page-link\" title=\"Real estate economics\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate_economics;http:\/\/rdf.freebase.com\/ns\/m.04t2q1;http:\/\/dbpedia.org\/resource\/Real_estate_economics\" >housing market<\/a>.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">Phase one of Help-to-Buy is the <a class=\"wl-entity-page-link\" title=\"Equity (finance)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/equity-finance\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/equity_finance;http:\/\/yago-knowledge.org\/resource\/Equity_(finance);http:\/\/rdf.freebase.com\/ns\/m.0hz8s;http:\/\/dbpedia.org\/resource\/Equity_(finance)\" >equity<\/a> <a class=\"wl-entity-page-link\" title=\"lenders\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/loan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan;http:\/\/rdf.freebase.com\/ns\/m.01dnzs;http:\/\/dbpedia.org\/resource\/Loan\" >loan<\/a> scheme which offers <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/housing-estate\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/housing_estate;http:\/\/rdf.freebase.com\/ns\/m.01rtvp;http:\/\/dbpedia.org\/resource\/Housing_estate\" >home<\/a>-buyers a government loan for 20% of the <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a>&#8216;s <a class=\"wl-entity-page-link\" title=\"Value (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/value-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/value_economics;http:\/\/rdf.freebase.com\/ns\/m.0bhr4z;http:\/\/dbpedia.org\/resource\/Value_(economics)\" >value<\/a>, provided the property is worth less than \u00a3600,000 and there is a 5% deposit in place.These loans are interest free for the first 5 years, and the scheme has already created a \u00a310bn portfolio of loans that critics argue will be a &#8216;heavy administrative burden&#8217; for decades to come. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">In defence of the scheme, Housing Minister Kris Hopkins has argued that Help-To-Buy is indeed a success and will contribute wider economic benefits that could be worth as much as \u00a31.8bn. Hopkins also claims that since its launch, <a class=\"wl-entity-page-link\" title=\"House-building\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house-building\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house-building;http:\/\/rdf.freebase.com\/ns\/m.0bryz6c;http:\/\/dbpedia.org\/resource\/House-building\" >house building<\/a> is up by one third and is now at the highest level since 2007. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">However Labour housing spokesperson Emma Reynolds claims that the number of new homes being built is still at its lowest level in peacetime since the 1920s, which appears to directly contradict Hopkins argument. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">Help-To-Buy has indeed helped 13,000 <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a>-buyers get onto the property ladder in the first 9 months following its launch, however government ministers have also criticised proponents of H2B for not properly analysing the overall effects of the scheme. Critics of the scheme argue that it has actually broken Treasury guidelines as Government did not fully explore viable alternatives, therefore there was no guarantee that this was the best and most effective way to spend \u00a310bn worth of taxpayers money. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">We will have to wait to properly determine the failures and success of the Help-To-Buy scheme, as there will not be a comprehensive evaluation of the scheme until 2015, by which time billions of pounds worth of taxpayers money will have already been poured into the scheme. For all of oursakes, lets hope it is a success.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\"><a href=\"https:\/\/www.thehouseshop.com\/advertise-property-free\">Find out about saving money and selling your home directly here.<\/a><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small;\"><a href=\"https:\/\/www.gov.uk\/government\/statistical-data-sets\/help-to-buy-equity-loan-scheme-monthly-statistics\">Click here to get the latest updates and statistics on the Government&#8217;s Help-To-BuyScheme<\/a><\/span><\/p>\n<p class=\"MsoNormal\">By\u00a0Franki Chaffin-Edwards<\/p>\n<p><!--EndFragment--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government&#8217;s flagship housing policy, the Help-To-Buy scheme, is facing fresh criticism from the Public Accounts Committee (PAC) who are concerned that H2B presents serious medium and long-term risks to the economy and the housing market. \u00a0 Phase one of<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/help-to-buy-faces-fresh-criticism\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":3526,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7,15,11,13,16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2014\/07\/H2B.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/help-to-buy_faces_fresh_criticism","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2638"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=2638"}],"version-history":[{"count":4,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2638\/revisions"}],"predecessor-version":[{"id":15378,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2638\/revisions\/15378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/3526"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=2638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=2638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=2638"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=2638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}