BMF calls for regional help to buy freedoms

The BMF has called for the Chancellor to localise Help to Buy to better fit with regional property prices.  

In a letter to the Chancellor in advance of the Budget, the BMF say that the Help to Buy policy has brought a major boost to the materials supply chain over recent years and demand it is continued beyond 2021.  

The trade body put forward innovative proposals that would see regional thresholds set to reflect the conditions of the house prices and demand in the local area.  

Commenting on the proposals, John Newcomb, Chief Executive of the BMF said, “The Chancellor must resist any calls to end Help to Buy. As well as supporting many more people to get on the housing ladder, the supply of materials for these new homes has become an important part of builders merchants turnover.  

“The Government must continue to be bold if we are to meet housing demand. Local thresholds for Help to Buy will support more first time buyers, stimulate local economies and support the creation of many more homes”.  

In their letter to the Chancellor the BMF also called for schools to engage with the BMF to include merchants in careers’ advice services and allow postponed accounting and let firms account for import VAT on their quarterly VAT return.