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Stephen Bailey, Macro-Thematic: H2B or not to be?

This was the question for many recently as criticism of the government’s Help to Buy (‘H2B’) mortgage guarantee scheme mounted following its announcement in the March 2013 Budget. With a slated start date of January 2014, there was always the possibility that political pressure may have resulted in the scheme being watered down to a less effective form prior to its implementation. The surprise decision not to dilute the scheme but to bring its launch forward to 8 October is certainly a fillip for some of our holdings, but it is only one element, albeit a very topical and emotive one, of our broader Prudence and the Rise of the Challenger Banks theme.

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Any opinions expressed should not be construed as advice for investment in any [product or] security mentioned or which may form the underlying content of any topics discussed in this blog.  The information and opinions provided in this blog take no account of the investors’ individual circumstances and should not be taken as specific advice on the merits of any investment decision.   Any opinions or information provided has been based on sources we believe to be reliable at the time of this blog’s preparation: no representation or warranty, express or implied, is made as to the accuracy, reliability or completeness of such information.  Neither Liontrust, nor any of its partners, employees, representatives or agents accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of our research or its contents.

Liontrust, its partners and/or employees may have had, have or will have positions in the securities (or related financial instruments) which are those referred to, or those underlying the content discussed in this blog.

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