Dear readers,
We are glad to announce of our new website, https://uk.webfg.com. There you will continue to have access to the full content of the Sharecast newswire, alongside an improved and expanded suite of market data and research tools for both the UK and the main international markets. As a first step in the transition to the new site, over coming days and weeks the news and data pages on Sharecast.com will redirect you towards the new website which we earnestly hope you will find even more useful than the current service. Should anyone like to comment or provide constructive criticism on the new layout or what features they would like to see added or deleted, do please send us an e-mail to info@digitallook.com. Lastly, of course, we wish to express our heartfelt gratitude for your support and encouragement over the years as we continued to grow and expand the service.
Very best,
Sharecast

Login/Register

Housebuilders subside amid reports of Help to Buy review

Company News

Housebuilders subside amid reports of Help to Buy review

Fri, 04 August 2017
Article viewed 212 times
http://stmedia.digitallook.com/web/img/dl/builder_housebuilding_bricklayers_persimmon.jpg
bool(true)
Housebuilders subside amid reports of Help to Buy review

(ShareCast News) - One of the government's schemes to support the housing market may be wound down within four years, industry reports suggested on Friday, sending housebuilding stocks lower.
The government may wind down the Help to Buy scheme by 2021, Property Week said, hearing that Sajid Javid's Department for Communities and Local Government has asked the London School of Economics to review the outcome of the programme being scrapped.

The article indicated Javid was mulling possible changes to Help to Buy, such restricting it to first time buyers or setting a maximum sale price.

Help to Buy was launched in 2013 to try and help buyers clamber onto the property ladder by providing a government loan to put towards a house deposit.

Housebuilders have been rocked recently as it appeared the government was moving towards banning the sale of new-build homes under leasehold instead of freehold, in order to prevent the unacceptable fees and costs from the landowner that have been widespread in the industry.

Javid has said he wants to put a stop to these "unjust" and "unecessary" practises, with housebuilders setting aside millions of pounds of provisions in recent results to pay out possible compensation over previous onerous leasehold deals.

Shares in Taylor Wimpey fell almost 5% to 185.7p, Persimmon lost more than 6% to 2,399p, Barratt 5% to 585.5p, while Bellway, Bovis and Redrow all fell at least 3%.