The Help to Buy ISA scheme will be great for those in the Midlands and North… but what about the rest of the country?
First-time buyers look set to get a leg-up on the property ladder with the long-awaited launch of the Help to Buy ISA on 1 December.
But with ever increasing property prices, just how helpful is the scheme?
To many, it may feel that the Help to Buy ISA scheme is a headline-grabbing move rather than a solution to the housing crisis.
Using land registry data for the past five years to reflect property trends, TotallyMoney.com forecasted the affordability of property for first-time buyers saving with the Help to Buy ISA. The results have been mapped for single people and couples and an interactive widget reveals whether those saving with a Help to Buy ISA will really be able to purchase a property.
See the maps and tool at http://www.totallymoney.com/help-to-buy-isa/
Alastair Douglas, CEO of TotallyMoney.com, comments: “While George Osborne’s Help to Buy ISA is great news for any first-time buyers struggling to get a deposit, it doesn’t go far enough.
More has to be done to help first-time buyers and our research proves that. With ever increasing house prices, the Help to Buy ISA will not suffice, particularly for single aspiring homeowners. It’s too little, too late.”