Government set to spend £5.2bn on new Help to Buy scheme

By Joey Gardiner2020-11-26T13:14:00

Chancellor allocates less cash than initially hoped for scheme starting in April

Chancellor Rishi Sunak has allocated £5.2bn of government funding for the two-year Help to Buy scheme due to start in April.

Treasury documents issued following yesterday’s Spending Review said the support scheme, under which home buyers are offered an equity loan of 20% to pay for the bulk of a deposit in a new build, will be given £2.2bn in the next financial year and £3bn in 2021-22.

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