Monopoly money: London Help to Buy

Posted: February 4, 2016 | Author: | Filed under: Help to Buy, Land, London, Tax | Leave a comment

Originally posted on February 4 on Inside Edge 2, my blog for Inside Housing

The person who sprang instantly to mind when I saw the promotional material for London Help to Buy on Twitter this week was Lizzie Magie (of whom more later).

The scheme offering 40% equity loans to buyers of new build property in London costing up to £600,000 was first announced in the Spending Review and formally launched this week. Here (thanks to Joe Sarling for drawing my attention to it) is the advert designed for digital media:

The Angel, Islington, costs a little bit more than £100 these days and with studio apartments in one new development starting at £715,000 you can forget about building a house for £50 or renting one for £6. But you get the general idea: it seems that you can now get on the property ladder as easily as you can ‘Advance to Mayfair’ or ‘Go Back to Old Kent Road’.

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