A help to buy repayment loan is a product used by some people who have used the scheme to purchase a property. There are a couple of different schemes under the help to buy program. The two schemes are a shared ownership scheme and an equity loan. There is also an additional option of applying for a help to buy ISA which is a government backed initiative which helps people to save for a home.
These schemes are incredibly important in providing social mobility and reducing the enormous societal wealth gap by allowing people from humble backgrounds to get onto the property ladder and amass wealth. Generational wealth is often created using the purchasing of properties as they usually steadily increase in value. This trend however has some anomalies. Many markets including the housing market were affected in the 2007/2008 financial crash. The COVID-19 pandemic has also had an effect on the market value of many properties. The rental market has also been affected. The economy has allowed people looking for new residences to be able to act slower in cities where properties can be take rented out within 24 hours such as New York and London. This can also make it more difficult for landlords to sell or rent their properties.