Government ditches Osborne’s Help to Buy mortgage scheme
The Government is ditching its Help to Buy mortgage guarantee scheme – the latest of George Osborne’s flagship policies to be abandoned by the new administration.
Writing to Mark Carney, Governor of the Bank of England, Philip Hammond said the scheme was ‘introduced with a specific purpose that has now been successfully achieved’ and will now be dropped by the end of 2016.
Help to Buy was launched in the autumn of 2013 to much fanfare, being hailed by the then-government as a ‘landmark’ scheme that would get thousands of British people on the housing ladder.
It meant that buyers only needed... read more
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