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  "path": "/money/labour-new-help-to-buy-scheme",
  "publishedAt": "2026-02-11T21:57:20.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Energy bills set to rise past Russia crisis levels as net zero 'obsession' blamed for extra cost",
    "State pensioner couples get an extra £3,495 towards a comfortable retirement",
    "Business rates need reform as store closures are causing 'similar pressure to pandemic', MPs warn",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nLabour is considering options for a potential replacement Help to Buy-style scheme as demand for new-build homes has fallen sharply, particularly in London.\n\nHousing minister Matthew Pennycook confirmed discussions are ongoing during a committee session on Tuesday.\n\n###\n\n\n\n\nMr Pennycook said: \"We are doing things in this space... we have no current plans for a replacement Help to Buy scheme, but we will continue to have those discussions.\"\n\nThe comments come as new-build property sales in London have fallen to some of their lowest levels since the 2008 financial crisis, according to data from Savills.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe Ministry of Housing is currently reviewing the performance of previous versions of the Help to Buy equity loan programme, with findings expected to be published in spring.\n\nThe original Help to Buy scheme operated between 2013 and 2022 after being introduced by then-Chancellor George Osborne.\n\nThe scheme allowed first-time buyers to purchase new-build homes with a five per cent deposit, supported by a Government-backed equity loan worth up to 20 per cent of the property price, or up to 40 per cent for properties in London.\n\nAn industry source involved in discussions told The Telegraph that a similar buyer support scheme is being considered, although no final decisions have been made.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nThe Treasury, Homes England and the Resolution Foundation are understood to have contributed to the review process.\n\nThe same source said the review had \"disproved a lot of myths\" surrounding the previous programme and suggested any future scheme could involve financial contributions from developers.\n\nHousebuilders have warned that without measures to support buyer demand, Labour’s target of building 1.5 million homes by 2029 could be difficult to achieve.\n\nSteve Turner, executive director at the Home Builders Federation, said planning reforms alone would not be enough to increase housing supply without strong buyer demand.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Energy bills set to rise past Russia crisis levels as net zero 'obsession' blamed for extra cost\n  * State pensioner couples get an extra £3,495 towards a comfortable retirement\n  * Business rates need reform as store closures are causing 'similar pressure to pandemic', MPs warn\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nMr Turner said: \"You've got to have confidence that you've got a market to sell your homes into.\"\n\nHe added: \"The lack of government support amidst a death of affordable mortgage lending is suppressing effective demand for new homes, preventing young working people from getting on the housing ladder and stifling investment in new private and affordable housing.\"\n\nIndustry figures have also pointed to previous financial returns generated through Help to Buy, with loan repayments reportedly generating more than £1billion for the Treasury when properties were sold.\n\nHowever, any future scheme would likely need to address criticism of earlier programmes.\n\n###\n\n\n\n\n###\n\n\n\n\nThe original Help to Buy initiative faced criticism from some economists and housing groups who argued it contributed to house price inflation and increased developer profits.\n\nPersimmon’s profits rose significantly during the period, exceeding £1billion in both 2018 and 2019.\n\nSome buyers also faced losses when selling new-build homes due to the new-build price premium.\n\nBorrowing costs could also rise once initial interest-free periods on equity loans ended, increasing financial pressure on some homeowners.\n\nEmily Williams, director of research at Savills, said: \"We'd need to be careful about how any scheme was designed, particularly the London equity loan scheme, where you could get 40 per cent. You want a scheme that recognises the nuances of local markets not a blanket scheme.\"\n\nA Ministry of Housing spokesman said: \"We do not comment on leaks, and there are no plans for another Help to Buy scheme.\"\n\nThe review comes as ministers face pressure to increase housing supply while maintaining affordability for first-time buyers.\n\n###\n\n\n\n\n**Our Standards:The GB News Editorial Charter**",
  "title": "Labour considering new Help to Buy scheme for first-time buyers: 'We're having discussions!'"
}