‘Help to Buy’ allowed to be taken advantage of by highly paid home owners
Does it come as any surprise that the government is failing at another system that was set up to help the UK property market? A farce or a normal day at the office, whichever way round you look at things sees some embarrassing reports being released, the latest here in full from Daily Mail Online, towards the mess that shows ‘Help to Buy‘ being taken advantage of by high earners rather than of course the basics of what it should be about, helping those families with low income on to the property ladder.
It is reported that 6,700 households that have an annual income of over £100,000 bought homes via the system that of course us ordinary tax payers will contribute to! What should be a simple to manage scheme and ideally set out to support just low income households now appears that there is no income limit in order to apply and be accepted by the scheme neither is the value of the property that is purchased… Seems crazy to me?