What are the facts for first time buyers?
A recent study carried out by the BBC has shown that the average price of a starter home exceeds the maximum purchase cap of £250,000 (or £450,000 in London).
The Help to Buy ISA was introduced last December, and comes with the promise of a 25% bonus (up to £3000) for first-time buyers who use the scheme.
The catch (that has proven a stumbling block for many) is the purchase cap. As the BBC found, 28% of two-bedroom homes outside of London exceed the £250,000 cap.
In a market that has become increasingly difficult to enter the concept of these schemes certainly lent hope for many, but how successful are they really proving?
You can listen to Money Talk live on Channel Radio every Friday at 12pm, or catch the replay at 11am each following Tuesday.
Looking to purchase a property? Here at Talis we have a fantastic mortgage team. Find out more.