'HELP TO BUY SCHEME 'ANNOUNCED IN THE BUDGET The“Help to Buy” scheme, which appears to be primarily aimed at helping households get a foot on – or climb up – the housing ladder with the intention of kick-starting the development of new homes and adding liquidity to the mortgage market was announced in todays budget.

 Help to Buy is made up of two schemes: • “Equity loan” scheme, which will run from 1 April 2013, where the government will lend individuals a deposit of up to 20% on a new build home if the individual contributes a 5% deposit.

• “Mortgage guarantee” scheme, which will run from January 2014, where the government will allow banks to purchase a guarantee from it on high loan-to-value mortgages for either new build or existing properties worth less than £600,000.

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