Bellway warns revived Help to Buy scheme could slow housing market

Bellway has warned the government’s revival of the Help to Buy scheme could further slow the housing market in the near term by encouraging housebuyers to delay decisions. The FTSE 250 housebuilder said Labour’s new equity loan scheme, Your First Home, is a “welcome development” but cautioned it will not immediately solve the UK’s housing market slowdown.  Jason Honeyman, chief executive of Bellway, told shareholders on Tuesday: “While the Government s proposed Your First Home scheme has the potential to provide meaningful support for first-time buyer demand, the period ahead of its launch may influence the timing of purchasing decisions among some prospective customers.” British housebuilders have been calling for the government to boost housing affordability as soaring mortgage rates caused by the Iran war put Brits off moving homes. Honeyman said: “Customer demand remains constrained by affordability pressures, with mortgage interest rates above prior-year levels, while