The government’s Help to Buy scheme for first-time buyers is being wound up three years after it was launched.
Help to Buy has assisted more than 100,000 individuals and couples to buy a home by guaranteeing the mortgage. Lenders have been able to offer more high loan-to-value mortgages of up to 95% using the government’s guarantee.
Around 30 banks and building societies now offer high loan-to-value mortgages so Help to Buy is not needed as much as when it was launched. The last day of the Help to Buy scheme is 31 December.
