The latest phase of the government’s Help to Buy scheme has recently been rolled out. This scheme is being implemented in order to stimulate the housing market as well as further boost the construction industry in England and Wales.


Under the second phase of Help to Buy, which had initially been due to launch in January, the government will underwrite 15% of the value of a mortgage, allowing people to buy properties with a 5% deposit.

 
The Help to Buy program is now open for applications, however successful applicants will not be granted the money from the government until 1st January 2014.The current initiative will apply to homes with a maximum value of £600,000 and is expected to be kept in place for three years.


The latest phase of the scheme has been met with controversy as opponents claim that it will inflate house prices and could make it even harder for first-time buyers to make their way onto the property ladder and could create an artificial house-price bubble.
 

Whilst we are certain that the rental market will remain strong we are urging landlords to ensure they have their tenants signed up as the scheme comes into effect in the coming months!

 

IN OTHER NEWS...

The Christmas bar battle has settled down as Banyan Bar was the winner of the title - official home of the 2013 Reeds Rains Christmas bash. Staff across the city are once again united in looking forward to the festive period and a jolly good knees up.