Independent Financial Life Planners Bishop's Stortford: Is the government Help to Buy scheme helping you?

Thursday, 6 November 2014

Is the government Help to Buy scheme helping you?

As experienced mortgage brokers in Bishop’s Stortford Enables IFA’s we glad to see the government scheme to help first-time buyers, come into the mortgage market to start with. It’s a scheme that offers up to 20 per cent of the value of a mortgage on a property as government assistance to help those trying to buy a new-build home. The buyer must have a cash deposit of at least 5 per cent and a mortgage lender must provide a loan of at least 75 per cent.

The criticism or the scheme has suggested it helps to fuel rampant house-price inflation. But in a recent report published by the Bank of England they said the scheme was not driving house prices up. The Bank said if you believe the figures, “the average house price in the Help to Buy mortgage-guarantee scheme was £153,800, significantly below the national average” but these mortgage figures were based on June mortgage date, published at the beginning of September. But the latest government statistics on Help to Buy also published recently include data to the end of August. That mortgage date shows that the average price in the first 17 months of the scheme was actually £210,269, significantly higher than the national average property price of £188,374, according to the Nationwide.

Enables’ IFA’s experience as mortgage brokers in Bishop’s Stortford tells them that it can often be hard to read the date to prove the benefits of mortgage schemes and if you need help making sense of it all we are here to help.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.