Government may struggle to wind down Help to Buy, says NAO

摘要

The government is facing an uphill battle to wind down Help to Buy while minimising negative effects on the housing market, a National Audit Office (NAO) investigation has found. In a progress review of the initiative, the watchdog found the scheme had increased home ownership and housing supply, but said a proportion of participants could have afforded to buy a home without the government's help. It also said the scheme exposed the government to significant market risk if property values fall, as well as tying up a significant public financial capacity. Gareth Davies, the head of the NAO, said: "We cannot say whether the scheme has delivered value for money." The scheme was introduced in April 2013 and by the end of last year had made 211,000 loans amounting to £11.7bn.