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Advisers doubt Help to Buy will boost market – poll

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  • 28/03/2013
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Advisers doubt Help to Buy will boost market – poll
A Mortgage Solutions poll shows advisers doubt Osborne's housing announcements, including Help to Buy will give the flat lining UK housing market a boost.

The poll revealed 51% of advisers think the Chancellor’s Budget announcements are unlikely to boost the mortgage or housing markets, where 12% disagree. For 37% of readers, it’s too soon to tell.

This week’s poll asked whether the raft of housing and mortgage measures announced in the 2013 Budget, including a new shared equity scheme and a mortgage insurance scheme, would boost the market.

The Help to Buy scheme is still under consultation with no timeline for its conclusions, despite the raft of supplementary material available from the Treasury on Budget day.

This week the Council of Mortgage Lenders called for greater clarity on the Treasury’s aims for the Help to Buy scheme.

Director General Paul Smee said: “If it is looking to make more high LTV loans then in which case why not extend to remortgages, or is the scheme trying to extend housing transactions?”

Help to Buy was one of the cornerstones of the Budget, with the two-part scheme comprising an equity loan and mortgage guarantee scheme.

The latter part has been criticised for its potential to subsidise second homes and now a potential flaw in the rules governing exclusion of remortgagors has become another flashpoint for lenders.

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