31% of Help to Buy users didn’t need it, says watchdog

A third of home buyers who used the Help to Buy scheme last year could have purchased a property without the initiative, research by a government spending watchdog has revealed.

According to the National Audit Office (NAO), 31% of the 211,000 buyers who used the equity loan scheme by December 2018 could have purchased a home anyway.

The government spending watchdog also said that around 4% of buyers that used the scheme – which is not means tested – had household incomes of over £100,000.

Over the whole scheme, 10% of buyers had household…
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