Options 'are narrow' for first-time buyers

Posted: 06 Aug 2010 11:12:49 GMT

First-time buyers do not have many options, one expert has suggested.

Managing director of Firstrung.com Helen Adams said the government's HomeBuy Direct scheme is just "one of the few avenues" left for those trying to get on to the property ladder.

She noted initiatives like the above should be extended, as it will support the house-building industry just as much as it will first-time buyers.

"The HomeBuy Direct scheme is doing something to help first-time buyers who want to buy a new home because it has enabled them to buy it on a shared equity basis," Ms Adams added.

Her comments follow the release of a statement from the Home Builders Federation, which urged the government to continue funding for the HomeBuy Direct scheme.

Officials have yet to confirm whether it will carry on past September, but the HBF has detailed the importance of the system and its impact on the economy.
 

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