PREVIEW

Help To Buy Mainly Benefited Higher Earners IFS Finds. The UK’s Help to Buy scheme mostly benefited higher earners, according to a new report from the Institute for Fiscal Studies. The programme, launched in 2013, was designed to help first-time buyers get onto the property ladder by offering government-backed loans and improving access to mortgages. However, the IFS found it was more commonly used by higher-income households, particularly in areas where homes were relatively affordable, and had limited impact on social mobility. The scheme included a mortgage guarantee, allowing buyers to purchase with a 5% deposit, and an equity loan covering up to 20% of the property value for new builds. Critics argue it pushed up house prices by increasing buyers’ spending power while supporters say it helped boost home ownership and housebuilding. The scheme is now closed in England and Scotland, with Wales set to follow later this year.
Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT