This morning, the Treasury published figures on how many people used the Government's mortgage guarantee scheme between April and September - around 6,500. A journalist at Thisismoney / Mail Online is keen to get opinions on why take-up has been so low.
- Was the scheme overtaken by lenders offering their own 5% deals independently of the scheme?
- Are FTBs worried about taking 5% mortgages in general due to negative equity?
- Or are there other reasons?
She's also seeking views on Help to Buy Isa data, also out today, which said 604,720 bonuses have been paid through the scheme since 2015 (totalling £674 million) with an average bonus value of £1,115. The mean value of a property purchased through the initiative is £175,680 compared to an average first-time buyer house price of £225,607 and a national average house price of £269,945.
- Given that the average bonus is quite small compared to the average house price. Is the scheme worth it?
Deadline is 3pm today.