David Cameron May Amend Help to Buy Scheme

David Cameron May Amend Help to Buy Scheme

David Cameron has said he would be prepared to amend the government’s Help to Buy scheme if the governor of the Bank of England were to recommend a change of approach.

The prime minister said he fully endorsed Mark Carney‘s comments over the weekend in which he warned that rising house prices posed the biggest risk to Britain’s economic recovery.

Carney told Sky News on Sunday that he would remain vigilant on the Help to Buy scheme, in which prospective buyers are offered a loan of up to 20% on the price of a home if they can provide a 5% deposit. The scheme initially applied only to new homes but was later extended to all homes worth up to £600,000.

Asked whether the government would accept any changes recommended by Carney, who the chancellor, George Osborne, has asked to monitor the scheme, Cameron told BBC Radio 4’s Today programme: “We will consider any changes that are proposed by Mark Carney. But as he said, this is a well-targeted scheme and it has helped tens of thousands of people to get on the housing ladder and have mortgages.”

  • theguardian.com, 

 

Enjoyed this post? Share it!