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Why is help-to-buy only on new builds!!!

(8 Posts)
BrieAndChilli Sun 06-Sep-20 10:45:23

It’s so annoying. New builds are always much smaller and have tiny gardens compared to older houses, no character and new builds have that new build premium so the minute you buy them you lose value and so they are slower to increase in price compared to older properties.
What is the thinking behind it? Do the building companies give the government a discount? Is there some sort of back room deal where thier planing permission gets pushed through in exchange??

OP’s posts: |
Maybenexttime08 Sun 06-Sep-20 10:54:03

Without it I don't think anybody would buy the new builds?

HappilyHoppily Sun 06-Sep-20 10:56:13

Presumably because the real point of the policy is helping the economy, not helping people who want houses.

FrolickingLemon Sun 06-Sep-20 11:00:19

A house in my street recently went up for sale and was part of the help to buy scheme. I assume the previous occupants part exchanged for a new build, so their property qualified as part of the scheme for the next buyer. So may be worth chciking the builders websites to see what part ex stock they have.

JoJoSM2 Sun 06-Sep-20 11:06:41

Presumably because the real point of the policy is helping the economy, not helping people who want houses.

Exactly.

Moomin12345 Sun 06-Sep-20 13:25:14

Also, people in government tend to be friends with large developers and they make life good for each other.

StartingGrid Sun 06-Sep-20 13:30:40

A few years back it did cover older properties, it was called the "mortgage guarantee" if I remember rightly.... I guess it wasn't hugely used compared to the new build scheme.

user1487194234 Sun 06-Sep-20 14:21:40

Most people prefer an older property so Help 2 buy encourages people to go for new property and keep the builders in business

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