| − | First-time buyers are up to £9,000 a year worse off compared to if they had bought the same property this time last year, an analysis has found.<br>The 'double whammy' of Help to Buy ending and mortgage rates soaring means monthly repayments are now an average £1,389 a month - an extra £354 compared to last year.<br>This equates to £4,252 a year extra for the average £250,000 home a first-time buyer purchases outside .<br>In the capital, where the average first-time buyer property is £450,000, repayments are £755 a month more - or £9,058 a year.<br><br>And is falling much slower than hoped, meaning interest rates are set to rise further. <br> First-time buyers are up to £9,000 a year worse off compared to if they had bought the same property this time last year, an analysis has found<br>The study, by the Liberal Democrats, sparked fresh calls for a scheme to replace Help to Buy, which offered an interest-free loan worth 20 per cent of a house's value outside London and 40 per cent in the capital.<br>Lib Dem housing spokesman Helen Morgan said: [https://www.facebook.com/people/Mortgage-Xpert/100070995033981/ MortgagXpert.net] 'There has never been a worse time to be a first-time buyer.'<br>The calculations were based on a 5 per cent deposit, repayments over 25 years and a 2.79 per cent five-year fixed-rate for a mortgage taken out in 2022 compared to a 5.01 per cent rate now without Help To Buy. <br>The Department for Housing was contacted for comment.<br>A Government spokesperson said: 'Supporting aspiring homeowners is a Government priority.<br><br>Since 2010, over 829,000 households have been helped to purchase a home through Government-backed schemes including Help to Buy and Right to Buy.<br>'We are committed to delivering 300,000 new homes per year and are investing £11.5 billion to build the affordable, quality homes this country needs.<br>'We have extended the Mortgage Guarantee Scheme which has already helped over 30,000 households with 5% deposits onto the housing ladder and we are progressing the Levelling Up and [https://www.biggerpockets.com/search?utf8=%E2%9C%93&term=Regeneration Regeneration] Bill to speed up the planning system, [https://www.change.org/search?q=cutting%20unnecessary cutting unnecessary] delays so we can build more homes.'<br>
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