first-time buyers in England were able to purchase a home under the new version of the Help to Buy equity loan scheme.The scheme, which is set to run until the end of 2023, will now be limited to people buying their first homes - unlike the previous ones.
So what is the Help to Buy scheme? The scheme gives buyers improve their chances of securing a mortgage and getting on the property ladder with a smaller deposit.READ: When should I buy a house?
Phil Spencer reveals advice for first-time buyersWATCH: Celebrity homes before and after fame revealedHowever, this method has some drawbacks too - well, according to property expert Phil Spencer, who has described the scheme as like "pouring fuel on the fire".Exclusive: Phil Spencer reveals how to.
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