Monday, 17 March 2014

We're on a Highway to Help.

Yesterday's Sunday Times may bring welcome news to conveyancers in the short term but may be pouring fuel on an already overheated property market. Such reckless and dangerous behaviour should be expected of Ozzy Osbourne rather than George.

Here’s the start of the Sunday Times story:

The Help to Buy scheme, designed to help people get on to the housing ladder, is likely to be extended in this week’s budget. George Osborne is expected to frame his budget around improving the lives of working-class voters in marginal Conservative seats by helping them to buy their own homes and pay less tax. It goes on to note the chancellor is tipped to increase the personal tax allowance to £10,500 and to extend the Help To Buy scheme beyond 2016.

Dirty deeds, done dirt cheap?

Let's not kid ourselves. The move is not some subtle attempt to start a 'conveyancers for conservatives' campaign but rather a flagrant example of the Tories' using taxpayers' money in an attempt to buy votes. With many experts suggesting that H2B should be scaled back, skeptics argue that any extension to the scheme can only highlight Osborne's intention to use help-to-buy as an election weapon.

What ever the motivations behind such a move, if indeed this does happen, conveyancers and estate agents will be happy to make hay whist the sun shines. 

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