Government first-time buyer incentive 'is welcome'

Posted: 24 Mar 2011 12:15:15 GMT

The BPF has welcomed a new first-time buyer incentive introduced by George Osborne.

New government attempts to assist first-time buyers (FTBs) have been welcomed by the British Property Federation (BPF).

The organisation said it agreed with proposals made by chancellor George Osborne, which will see the Firstbuy Direct scheme provide government aid amounting to £250 million to help an estimated 10,000 people onto the housing ladder.

Ian Fletcher, director of policy at the BPF, stated: "This package broadly makes sense, because it targets home deposits and is about as much as the government could realistically do in current circumstances."

The industry figure explained that it is important that support for growth and jobs is shown by any ruling party.

However, he added the organisation would have liked to have seen a refined policy that targets aid for properties that are yet to be constructed or completed.

Helen Adams, managing director of FirstRungNow.com, recently claimed FTBs are still finding it difficult to obtain a mortgage, despite housing becoming more affordable.
 

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