Innovative schemes 'helping FTBs'

Posted: 31 Aug 2011 11:59:02 GMT

Encouragement is needed to help FTBs on to the property ladder, it has been claimed.

Innovative schemes are helping first-time buyers (FTBs) get a foot on the property ladder and are likely to become increasingly popular over the next few years, it has been claimed.

Helen Adams, managing director at FirstRungNow.com - which was set up in 2003 to lend a helping hand to FTBs - said it is a positive step to see these initiatives from both mortgage companies and the government.

The industry figure explained: "Although property prices may stagnate or come down a little bit, property prices are still very high and we do need some innovation in this sector."

She noted one of the main obstacles at present is that lenders are proving hesitant when selling to FTBs because such a move can serve to decrease their profit margins.

However, these firms might be wise to encourage FTBs to purchase a dwelling through a scheme or programme as doing so could help create movement in the market.
 

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