First-time buyer help may­face axe

Yorkshire Post - Property - - PROPERTY -

The home build­ing in­dus­try has urged the Govern­ment not to aban­don first-time buy­ers by ax­ing home-buy­ing as­sis­tance.

HomeBuy Di­rect is a par­tially Govern­ment-backed scheme that has helped 10,000 first-time buy­ers on to the prop­erty lad­der over the last two years.

There is wide­spread con­cern that its fund­ing won’t be re­newed af­ter Septem­ber this year.

The Home Builders’ Fed­er­a­tion has sub­mit­ted ev­i­dence to the Trea­sury de­tail­ing the im­por­tance of the scheme and its wider eco­nomic value.

The av­er­age age of a first-time buyer, with no fi­nan­cial help from fam­ily, has reached 37.

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