Posted 03.07.17
GOV UK: Article link
Flagship government schemes to help more people get on the UK housing ladder have little impact on improving social mobility as better-off buyers are most likely to benefit from the support.
A new report published by the Social Mobility Commission into the impact of low-cost home ownership schemes found that those who benefit from schemes - such as Help to Buy - earn more than one and a half times the national working age median income.
Around 3 in 5 first-time buyers said that they would have bought anyway and that the scheme merely enabled them to buy a better property, or one in a better area, than they were originally looking for.
Promoting ownership for first-time buyers is a current Government priority.
