Almost half of young buyers unaware of HTB scheme

A survey of 1000 people actively looking for property to buy has provided further evidence that Generation Y is turning to family, rather than government schemes to get on the property ladder.

Related topics:  Mortgages
Amy Loddington
3rd October 2014
first time buyer ftb buyer

When asked ‘What is the Help to Buy scheme?’, respondents were given a list of five options; 16% of 18-24 year olds said the Help to Buy scheme is a recently launched face-to-face, personal shopping service by the major supermarkets for over 60s. In fact less than half (42%) said they understood what the Help to Buy scheme is. A further 11% of those aged between 25-34 also thought that Help to Buy was a new service launched by UK supermarkets.

Chris Marshall continues:

“With Help to Buy targeted towards first time buyers, 18-24 and 25-34 year olds are key demographics for the scheme. However, these stats will prove alarming for government officials who are relying on ‘Help to Buy’ to ensure people fulfill their ambitions of owning a property. It’s concerning that it isn’t until you reach over the age of 45 where people fully understand what Help to Buy is.”


The research, carried out by removals company Bishop’s Move, found that 42% of those aged between 25-34 years old said their greatest challenge to buying a property is the ability to raise a deposit. This is compared to 23% for those aged between 35-44 years old.

Interestingly, just 14% of those aged between 18-24 said their greatest challenge to buying a property was the ability to raise a deposit. 

Bishop’s Move’s Sales & Marketing Director, Chris Marshall, comments: 

“I think there is now an acceptance amongst some parts of the younger generations that they don’t have a choice but to turn to the ‘Bank of Mum and Dad’ if they want to get on the property ladder, which is why I think the figures for those aged between 18-24 are so low – raising a deposit isn’t a concern to them now as they know that safety net is there.” 

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