The latest broker sentiment poll by United Trust Bank – which asked almost 180 finance brokers if they believed the Help to Buy initiatives have had a positive impact on the UK residential property market – revealed that just 11% believed that it had had a largely negative impact.
The poll found that the most popular change that brokers would make to Help to Buy would be to restrict it to first-time buyers (41%).
This was followed by restricting it to buyers with an annual household income of less than £75,000 in London and less than £60,000 in the rest of the country (27%) and special dispensation available to some public sector workers (25%).
Some 11% wanting it to be restricted to genuine new-build homes.
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Commenting on the findings, Noel Meredith, executive director at United Trust Bank (pictured above), said that it agreed with a majority of brokers responding to this poll that the Help to Buy initiatives had been broadly positive and it would also be keen to see the scheme extended beyond the current 2021 end date.
“Help to Buy has assisted thousands of people who may otherwise have been unable to get on to the property ladder to buy their own home.
“It has also provided support to developers – many of them SMEs – by offering their prospective purchasers a tangible financial helping hand and I have no doubt that Help to Buy has boosted activity in the starter homes sector and encouraged housebuilders to develop more of the homes we need to overcome the UK’s housing shortage.”