First-time buyers hoping to use the help-to-buy ISA scheme are being given a warning as the scheme is set to close.
The scheme, launched in 2013 in a bid to rejuvenate the housing market, offers an equity loan to buyers to enable them to buy a new-build property with a deposit of just 5%. The government previously said the scheme will end in March 2023 and it was anticipated buyers would have until the end of December to secure a property.
Homes England, the body which administers the scheme, has now confirmed the deadline was brought forward to October to ensure buyers have enough time to exchange contracts and complete their purchases before the scheme closes.
