11
May
New government 'should help first-time property buyers'
When the new government is formed, it should implement measures to
assist first-time property buyers, it has been suggested.
According to Paul Collins, editor of BuyAssociation.co.uk, such
people are the group most in need of help at present.
He recommended changes to stamp duty and an assurance that the
financial sector is committed to greater levels of lending.
Mr Collins remarked: "First-time buyers are the group most in need
of government help at the moment and without this stream of 'new
blood' coming into the market, the rest of the property spectrum
will eventually suffer."
The expert went on to say that while no one wants to see a return
to a situation like the UK had in the past, whereby those seeking
to purchase a home could access mortgages worth 125 per cent of the
value of the homes, people should be able to get loan-to-value
ratios of around 80 per cent.
His comments come amid confusion at Westminster concerning which
parties will group together to form a coalition.
