The impact of the changes to the Help to Buy scheme will start to show in the housebuilding market by October 2020, Lloyds Banking Group has predicted.
Speaking on Mortgage Solutions Television Douglas Cochrane, head of housing development at Lloyds Banking Group, said while there would not be a slowdown in development, the effect of first-time buyer restrictions and regional caps will become apparent as the year progresses.
He said there would be a “concerted effort” to complete properties for those who would not meet the incoming restrictions before the 31 March 2021 deadline.
Cochrane added: “I think what we’ll start to see is an emphasis on those purchasers to ensure their property is ready for the end date.
“We all know of the problems with the Beast from the East and how that impacted on building plans and I don’t think builders want to take any chances that there may be some overhang at the end of March [2021].”
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Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
