Having said that, it appears that there is a very real need for greater education among adults about the options open to them. Shared ownership schemes and HomeBuy initiatives, while providing a viable option, have been left largely ignored by the industry. It is up to us as brokers to fully explain all the options, and for many this means taking a greater interest in the niche schemes available to first-time buyers. There is also a proportion of blame to be put at the government’s door. For all of its claims to have helped the market, there is still much more that it can do to help first-time buyers. It seems unlikely that the number of new builds projected will reach the government’s target, which will only further exacerbate the demand gap and the properties available.
With an increasingly competitive market, it is up to mortgage lenders and intermediaries to develop solutions, while the government should take a good look at its own initiatives.
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