UK first-time buyer scheme lifts housebuilders, but success hinges on design
LONDON: Britain’s new first-time buyer support scheme could provide the biggest boost to housebuilders in years, helping revive sales that have languished since the previous “Help to Buy” programme ended in 2023.
Britain's new first-time buyer support scheme, Help to Buy, could provide the largest boost to housebuilders in years, helping revive sales that have been stagnant since the previous Help to Buy programme concluded in 2023. The Your First Home programme targets first-time buyers who can manage mortgage payments but have found it difficult to save deposits due to high rents and cost-of-living pressures.
To qualify, buyers need only a 2.5 percent deposit, while the government offers loans up to 20 percent of a property's value, enabling them to secure mortgages that would otherwise require larger deposits. The government will provide details, including income thresholds and regional price caps, during the first budget delivery on October 28.
Housebuilder shares rallied on Monday as investors anticipate the scheme could unlock pent-up demand and support new-home sales.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
