6 Aug

First-time buyers 'should get more help from government'

First-time buyers 'should get more help from government'

A new report by the Home Builders Federation (HBF) has suggested that the government continues with a scheme which helps though buying houses for sale in the UK for the first time.

The study, which was submitted by the group to Treasury, showed that around 10,000 first-time buyers have been supported by the HomeBuy Direct initiative over the last 24 months.

According to the HBF, the scheme, which is partially funded by the government, has held an important role in allowing young people to get onto the property ladder, as well as having wider economic significance.

Research from the organisation also revealed that there are fewer first-time buyers now than at any time in the last 35 years, while nearly one-third of men aged 20 to 34 still live with their parents.

Independent mortgage broker John Charcol recently reported that variable rate mortgages are continuing to take most of the market for the products, with 75 per cent of all deals coming with variable interest.ADNFCR-1222-ID-800016124-ADNFCR

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