David Newnes added “The bank of Mum and Dad is no longer the only go-to cash reserve for aspiring home-owners. Parents have seen their savings diminished by inflation and low interest rates. The government is stepping in to fill that void and help first-time buyers struggling to save for a deposit to get onto the ladder. There is an added benefit too. Extending the equity loan scheme will encourage more first-time buyers to opt for new builds. This goes some way to guarantee future demand for home-builders, thus encouraging them to develop more new projects. Even so, the scale of the home-building revival must be up-scaled, in order to give the next generation of would-be first-time buyers a fair opportunity to buy their own home”. (source: www.lslps.co.uk)
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