Catch 22: first-time buyers can buy only new properties; if they could get the discount on ANY property many would save at least 10% – and have none of the poor-quality build issues affecting new properties.
But developers won’t allow that!
“First-time buyers using the Help to Buy scheme in England are paying an average of 10% more than those buying a new home without Government support, figures suggest.
Those who purchased a new-build home in the past year using the scheme paid an average £303,450 each, significantly more than those who bought without Government help.
On average, the premium paid by those using the scheme was 10.3% in the 12 months to September 2019.
That’s according to a report on 41,500 new build properties, which also found huge price disparities between properties sold in London and the rest of the country. …”