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Help-To-Buy scheme Is The Deal Of The Century For The Government Government Say Help-To-Buy Scheme Is Creating

 75 New Homeowners A Day

The Prime Minister, David Cameron has been defending the controversial Help-To-Buy scheme, stating publicly that the scheme is creating up to 75 new homeowners a day.

Over 2,000 first-time buyers have made offers on properties using the scheme and the Prime Minister is rubbing his hands with glee because there is a dark secret behind the incentive.

More than £369 Million (GBP) has been lent to new home owners, making the loan figures average £155,000 (GBP) per person. Wages will likely rise with inflation and so will mortgage rates, doing little for the financial security of working homeowners who will be trying hard to pay off the percentage stake in their property that is owed to the Government.

Mr Cameron insisted that the state-backed loans are helping hard working responsible people purchase residential property to live in, and he also dismissed fears over a new housing bubble and taxpayers helping the wealthy middle-classes as nonsense.

What he did not say was what the prospects are likely to be, for people buying property now using the Help-To-Buy scheme, in a few years time.

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New Affordable Housing Guarantees Funding Is Intended To Deliver

New Affordable Housing Guarantees Funding Is Intended To Deliver
Thousands Of Affordable Properties

New Affordable Housing Guarantee Funding Is Intended To Deliver Thousands
Of Affordable Properties

On the 24th July 2013, Government ministers announced a multi-million pound boost to build thousands of new and affordable residential properties in the UK.

69 different housing associations and developers will each receive a share of £220 million (GBP) to deliver almost 14,000 new and affordable residential properties outside of the London area.

Work on the new residential properties will be started by March 2015 and will be expected to be completed by 2017.

The move is part of wider government efforts to get Britain building, which will lead to the fastest annual rate of affordable house building for over 2 decades.

The increased funding is part of the expanded £450 million (GBP) Affordable Housing Guarantees which will support up to £3.5 Billion (GBP) in government debt guarantees to deliver thousands of new homes.

Of the almost 14,000 homes this money will help deliver, the majority will be available at an affordable rent with 2,000 of those available to buy through shared ownership.

Housing associations and developers who plan to use the guarantee scheme will now work with the Affordable Housing Finance to finalise the details of the loan funding that will work alongside today’s grant allocations.

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