With the Treasury reporting that around 250,000 people have opened up a Help to Buy ISA since its launch in December of last year, experts are now beginning to look towards March’s Budget, and what the Chancellor will offer to keep the Government initiative running. The 1st of February saw options opening up for those struggling to buy in the Capital, with the launch of Help to Buy London, a version of the Equity Loan scheme. The Mortgage Guarantee element, however, is due to finish at the end of this year.
The press continued to report over the weekend on the implications of the upcoming stamp duty increase. The impact on established Buy-to-Let landlords has been widely discussed, but mortgage brokers suggested in the Telegraph that homeowners wishing to keep hold of their old home when they move property are being unfairly penalised. Many choose to do this as a part of a plan to supplement their pension income into retirement, and critics say groups like this are more likely to feel the effects than wealthy landlords.
Elsewhere, the Independent on Sunday looked at the best time for vendors to put their property up for sale. Recent research suggests the best prices are achieved in the spring and autumn months, with a number of factors contributing to the increase in interest, including improved weather conditions or the end of the summer holidays.