U.K. to Start New Help to Buy Program for First-Time Buyers
Photographer: Matthew Lloyd/Bloomberg
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In a boost for U.K. homebuilders, Chancellor of the Exchequer Philip Hammond will introduce a new Help to Buy program that will run from 2021 until 2023.
The scheme extends the original program, which has drawn criticism for boosting prices. It will be limited to first-time buyers and regional price caps will be introduced, limiting the value of the home to 1.5 times the price for an average debut home purchaser.