The Budget revealed that the government will provide £250 million to support first time buyers to purchase a new build property.
Called "The First Buy Programme", it will assist over 10,000 households by providing help towards the deposit on a house, which together with similar help from the housebuilder, will enable more first time buyers to obtain mortgages.
Whilst this is welcome news, it should be noted that £250 million will not go far and the scheme only applies to newly built properties.
Mary Nation
mn@charlesworthnicholl.co.uk