More help and support needed for first-time buyers?

Posted: 21 Jul 2010 11:16:25 GMT

The government needs to offer more help and support to first-time buyers hoping to get on to the property ladder, one expert has stated.

Press officer from PricedOut.org.uk Katy John said they need more access to the housing market.

"If the housing minister, Grant Shapps, is serious about supporting people to realise the aspiration of homeownership, he needs to start levelling the playing field in favour of first-time buyers," she added.

Ms John noted the regime could improve the prospects for those trying to purchase a dwelling for the first time by ending tax breaks enjoyed by property investors.

She also indicated officials may want to increase taxation on second and multiple homeownership.

The specialist's comments follow the release of a report by John Charcol, which revealed the number of first-time buyers getting mortgages accounted for just 5.4 per cent of all transactions within the establishment in June.

This is the lowest level seen since 2008 and could be due to the fact lenders now have strict criteria for those seeking a loan.


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