Changes with Help to buy next year

[Rad2016]

So we only just found out about the cap changing next year and just very stressed about it. We are looking at buying a new home and most developers want everything done by December. Wonder if anyone is in this situation

Yep us, second time buyers so we wouldn't be able to use it next year. Reserved a plot, due to complete November. Just praying our sale goes through ok....supposed to exchange this week but really delayed.

I hope your sale goes through. We viewed a plot we liked yesterday and doing paper work today. Hoping all goes through too. As next year cap is reducing for first rime buyers meaning we'll get a smalithan the ones we've been looking at

What is the cap? And is this just for England?

@stressedhousebuyer next year it'll be for first time buyers only and house price eligibility is being reduced, it depends on area. Some areas like midlands it's cut quite dramatically. If you google it should come up.

Yes Midlands takes the biggest hit which is where we are. We have to buy by December. People think the government will extend but I don't want to bet on it

Yeah we are midlands too, couldn't buy the house we are buying now after the cap. Yeah it'll be interesting to see, the new build market is so rapid right now it's not like it's stalled to make it need to extend. But if mortgages are about to get very difficult to obtain it could help a lot of people, I'm not risking it though so hopefully our sale will go through.