First Time Buyers Government Policies Described as 'Window Dressing'

Government plans to help out first time property buyers by way of a new FirstBuy scheme have been described as "window dressing for the gullible".

Paul Holmes, chief executive of Firstrung, commented: "Their [the government's] preoccupation is to stimulate new house sales, not to help first-time buyers. There is absolutely no point in a first-time buyer getting assistance on an overpriced property."

He argued that the initiative is a "complete shambles" and that "the coalition should be ashamed of putting their name to it".

Mr Holmes noted that the best thing for first time buyers to do is to wait for a bargain, or else select property in need of restoration and do it up themselves.
His comments come after the government announced its FirstBuy project would help first timers get onto the property ladder by offering help with deposits on new build properties.

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