Warning over 'spare home subsidy'

Updated
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The Government must show its new mortgage guarantee scheme does not become a "spare home subsidy" with taxpayers underwriting lending to people who want second homes, shadow Treasury minister Chris Leslie has said.


Chancellor George Osborne announced the multibillion-pound Help-to-Buy scheme in last month's Budget as part of efforts to get more people on the property ladder with a deposit as low as 5%. But there are fears it could be used by the well-off to purchase a second home.
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