Chancellor George Osborne gave to those trying to get onto the property ladder in London while taking away from buy-to-let investors.
Basically Help to Buy London is a London-tailored extension of the existing Help to Buy initiative.
The extension of the existing Help to Buy scheme basically doubles the amount of equity loan which can be applied for to but an abode in the nation’s capital city, from 20 per cent of the property’s value up to 40 per cent.
This loan remains interest-free for the first five years, but after that buyers will owe interest to the government on the loan.
This guide will tackle the pros and cons of Help to Buy London, alternative ways to step onto the property ladder in the nation’s capital city and the potential impact on house prices inside the M25.
Contributors of content to this guide are; Mark Hayward, managing director of the National Association of Estate Agents (NAEA); Jeremy Blackburn, head of policy at the Royal Institution of Chartered Surveyors; Andrew Bridges, managing director of estate agent Stirling Ackroyd; Adrian Gill, director of Reeds Rains and Your Move estate agents; Lee Hartley, chief executive of Fairstone Group; and Simon Checkley, managing director of mortgage broker Private Finance.