Why only first-time buyers
Tuesday, 05 August 2008 14:26

We hear plenty of talk about helping first-time house buyers, but nothing for the rest. This is perverse, it means that all the other house buyers are being treated as second class buyers and in effect told that they don't need any assistance.

What's the difference between someone who bought their first house a year or so ago at the top of the prices and now needs to move, and someone who is looking now?

In the first case they probably have negative equity of several thousand pounds so they really could use any assistance that's going. The first-time buyer now gets a better deal because the price is lower and their on-going mortgage payments would be lower. It's not just first-timers who need help, we all need it!

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