23
Apr
Homebuy scheme extension welcomed
The extension of the government's HomeBuy Direct scheme aimed at
helping first-time buyers onto the property ladder has been
welcomed.
Chancellor of the Exchequer Alistair Darling announced in his
Budget speech that the scheme is to get an extra £80 million
in funding, with 32,000 people having enquired about it since
September last year.
This move was welcomed by Helen Adams, the managing director at
first-time buyer services firm FirstRungNow.com, who said: "It is a
start; it is a move in the right direction."
She noted that the take-up of the scheme so far has been less than
hoped for, but suggested this might be down to wider issues about
lending.
Measures to get the banks to provide more mortgages and also to
underpin employment would help to support first-time buyers, she
added.
As well as the HomeBuy scheme cash, the chancellor announced that
the lowest threshold for stamp duty will remain at £175,000
for the rest of the year, instead of reverting to £125,000 in
September as was originally planned.
