The UK government's Help to Buy scheme for first-time home buyers is set to be extended for a second time to 2023, two years beyond the previous end date. In addition, ministers are considering the imposition of a restriction to the policy during the extra period, as well as a potential change of name. Help to Buy was introduced in 2013, and has gone on to support 40% to 50% of house builders' annual home sales. A spokesman said: "The government will continue its work with local authorities to ensure that they have sufficient planning powers to deliver homes fit for people who need them.
The UK government's Help to Buy scheme for first-time home buyers is set to be extended for a second time to 2023, two years beyond the previous end date. In addition, ministers are considering the imposition of a restriction to the policy during the extra period, as well as a potential change of name. Help to Buy was introduced in 2013, and has gone on to support 40% to 50% of house builders' annual home sales. However, critics have argued the scheme is being monopolised by wealthier households using it to purchase bigger homes.