First-time scheme has a low pro­file

Yorkshire Post - Property - - PROPERTY -

AROUND 45 per cent of po­ten­tial first-time buy­ers say they are now more likely to get on the hous­ing lad­der thanks to the Govern­ment’s First­buy scheme.

But the re­search, by Rightmove, does raise some causes for con­cern. More than a third (37 per cent) of first-time buy­ers stated that they had not heard of the scheme.

Rightmove di­rec­tor Miles Ship­side says: “It must be asked whether more can be done to drive aware­ness.”

The scheme al­lows first-time buy­ers to pur­chase a new-build prop­erty us­ing a five per cent de­posit, with a fur­ther 20 per cent de­posit pro­vided in the form of a five year in­ter­est-free loan jointly funded by the Govern­ment and the house builder.

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