I was very encouraged to read remarks by John Cridland, Director General of the CBI, calling on the Government to back measures to help home buyers in particular first time buyers. Cridland commented “As we have seen, without a steady stream of eager first time buyers, the housing market stagnates and our whole economy suffers. Now is the time to stop the stagnation and get the housing market flowing again.”
As readers of previous blogs will know I have been calling for the Government to take urgent action to assist first time buyers for the last few years. We ran a very successful deposit match scheme via a couple of main stream lenders which proved hugely popular and reinforced to me that it would not be difficult for the Government to enter into discussions with a number of the High Street lenders to agree a package supporting first time buyers. This would be of very little cost and would reap huge economic benefits. Like the Director General of the CBI, I would ask that the Chancellor uses his Autumn statement on 29 November to jump start the housing market.Lindsay Darroch Head of Property
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