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New-build loans will fail to strengthen property chains

Can’t anyone else see that the government’s proposed 30% interest-free loans for first-time buyers won’t get the market moving? The simple reason is that the scheme will only apply to new-build properties.

Why doesn’t it apply to first-timers purchasing existing properties as well? If it did it would help to create property chains. As it stands the scheme won’t strengthen the market.

Those properties currently not selling will remain in limbo. Estate agents will shift even fewer units because first-timers will only buy new-builds. It’s time for yet another rethink.

Kevin Thornton

MT Financial Services

By email

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