My sister is looking to buy. She found an £80k new build flat that she feels she can afford, but when enquiring about Help to Buy she was told that she earns too much to qualify.
The agent directed her towards a £120k house, where she would be eligible for Help to Buy instead.
Apart from the obvious problem of needing 1/3 more in terms of a deposit, this makes repayments a lot more difficult. Why is Help to Buy pushing people to borrow more than they can afford?
I've tried looking up these limits online, but very few of the sites have hard facts, they mostly read like glossy pamphlets. Can anyone point in the direction to see how these limits are defined?
The agent directed her towards a £120k house, where she would be eligible for Help to Buy instead.
Apart from the obvious problem of needing 1/3 more in terms of a deposit, this makes repayments a lot more difficult. Why is Help to Buy pushing people to borrow more than they can afford?
I've tried looking up these limits online, but very few of the sites have hard facts, they mostly read like glossy pamphlets. Can anyone point in the direction to see how these limits are defined?