Petition Reduce interest rate for Help to Buy scheme.

Help to buy scheme started a few years back introduced up to 20% equity loan to first time buyers. Interest rates were not applied for first five years but then starts at 1.75% and expected to increase by at least 1% each year thereafter. Interest rates should be lowered with current rate

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Bank of England Interest rate in current economic climate and with COVID-19 situation has gone already down and therefore government should reconsider their position on charging a much higher rate to first time buyers who were helped by the scheme but won’t be able to repay with higher interest rate.

This petition is closed This petition ran for 6 months

36 signatures

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10,000

Date closed 17 October 2020
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