Government's Help to Buy scheme isn't just for first time buyers, it's open to all (From Southend Standard)
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Government's Help to Buy scheme isn't just for first time buyers, it's open to all
5:21pm Thursday 12th June 2014 in News
MORE awareness of a Government scheme for home buyers would further boost the property market, according to an estate agent.
Perry Rose, of leading Essex estate agents Haart, believes there is a common misconception the Help to Buy scheme is only for first-time buyers.
But he adds the local property market will continue to thrive, regardless of any Government intervention.
Nationally, 87 per cent of those who have used the scheme have been first-time buyers.
Mr Rose said: “I think Help to Buy is often misunderstood. It is not only for first-time buyers. It is there to support other buyers as well and I think that needs to get out there, as I think it would have a bit of an impact on the market. There are lots of people registering to buy properties, but with the second-time movers there is often a bit of a gap.
“I don’t think people realise it is open to them.”
Last week, statistics released by Nationwide showed house prices in the UKhad jumped 11 per cent in the last year.
The figures led to fears of potential problems in the housing market due to unsustainable rises, but Mr Rose believes Essex is unaffected by the issue.
He said: “I feel the market is fairly strong. I think people buy with heads and hearts now. If the money is too high, then mortgage companies are not lending, but if properties are at the right price there are plenty of buyers.”
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