Help to Buy ruled out for second homes and foreign buyers

Prime Minister David Cameron has said the Help to Buy scheme will not be available to people looking to buy a second home or to foreign buyers. Mr Cameron told the House of Commons that the scheme should be available for people to buy their own homes and that there will be a mechanism to stop certain types of buyers accessing Help to Buy. He went on to say: “In order to take part in the scheme you have to have a credit record in this country so it won't help foreign buyers.” The £15.5bn scheme, designed to help people on to the property ladder, is a new government-backed initiative to help first-time buyers and those looking to move up the property ladder. June 14, 2013