Hursty Regarding fueling the housing market bubble, I stand by that comment because its ironically harming people they want to help, as not only are they subject to what was said above, I’m fairly sure users of the scheme could only choose from high interest mortgage rates due to the ‘risk’ they posed.
Coupled with the fact that its buoying the overinflated prices with new buyers, when theoretically prices need to come down so first time buyers can enter the market.
Can only speak from an informed position on the NI market but any financial articles i read on the UK market as a whole suggest it follows a similar trend. Our main issue is supply and demand, with nowhere near enough stock available so as soon as anything comes on the market there is a biding frenzy. Couple this with cash rich property developers and professional landlords who are snapping up the old entry level priced houses, it means people are forced to buy upwards of what was traditionally a first time buyer home, again meaning increased prices. With a lot of people wanting to move out and rent and with rents also being a shit show nowadays, the likes of the help to buy and other shared ownership schemes can be a life saver for those wanting to get themselves onto the property ladder. It absolutely does not mean people are buying homes they cannot afford.
