FTBs 'getting increasingly desperate'

Posted: 22 Aug 2011 16:53:40 GMT

The popularity of low-cost home ownership is being driven by FTB desperation, it has been suggested.

First-time buyers (FTBs) are becoming so desperate to get their foot on the property ladder that they are considering all options open to them.

This is the view of Helen Adams, managing director at FirstRungNow.com, who explained such longing to enter the market has resulted in the popularity of low-cost home ownership (LCHO) schemes experiencing a hike.

The industry figure noted individuals are considering both government programmes and special mortgages as they require all the assistance they can in order to afford a dwelling.

Straightforward initiatives could prove the most favoured by FTBs, as they may shy away from those deemed too complicated.

"They can be a bit convoluted, so simple solutions are good. More creative solutions are good, as long as they are not too complicated and that they do actually help," Ms Adams added.

Her comments come after Halifax recently suggested LCHO schemes are vital to the housing market, despite struggling for popularity since the economic downturn.
 

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