An Indian-owned company has been profiting from the Government's Help to Buy housing scheme. Target Servicing, a firm owned by Anand Mahindra is churning millions every year from first-time property buyers through charging an annual management fee from the Help to Buy scheme. The organisation charges £200 for services such as carrying out changes to their loans or improvements to their property.
Reports also suggest that Target may have received payments worth £4.5 mn by the Government over the last two years besides the fees that they receive from the buyers.
Although, the Help to Buy scheme has helped over 200,000 people in purchasing new a newly-built home, criticism has been rife around the creation of a housing bubble where high demand and inflation of property prices has helped builders make huge profits.
Target Servicing, a Cardiff-based company was overtaken by Tech Mahindra.
