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Industry calls for clarity on Help to Buy

The property sector has called for clarification on what’s going to happen to the Help to Buy equity loan scheme after 2023.

A housebuilder, trade body and startup all raised the issue after the election result.

John Newcomb, chief executive of The Builders Merchants Federation (BMF), said: “Early clarification on what the future holds for the ‘Help To Buy’ Scheme would be very welcome.”

And Kate Davies, executive director of the Intermediary Mortgage Lenders Association, said: “The government needs to support a new dialogue with lenders and housebuilders on what happens when Help to Buy ends in 2023.”

Meanwhile Vadim Toader, founder and chief executive of Proportunity, a fintech start up offering Help to Buy-style loans, said: “Help to Buy hits a sticking point in that it only supports buyers of new builds.

“More collaboration with the private sector could be the key to expanding the remit of the scheme.”