Steve Lees, Director at smartnewhomes, comments on the Firstbuy scheme announced in today’s budget:
"Finally, some good news for the housebuilding industry. The sector has been stifled by the lack of funding available to first time buyers who are currently unable to raise the large deposits required by lenders, but the fact that Firstbuy is targeted only at new homes means that the stagnation at the bottom of the market will be eased. This will enable housebuilders to build more, providing a significant boost to the sector and potentially creating thousands of new jobs.
"This is not a long term solution, as the scheme will only help 10,000 buyers, but alongside the many shared equity schemes already offered by developers, we are hopeful it will have a real impact."
See Also: Press Releases (0), Budget (0), Housebuilding Industry (0), Firstbuy (0), Shared Equity (0), Shared Equity Schemes (0)
Date Published: 23 March 2011
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