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Aspiring homeowners say government not doing enough

FirstRungNow Ltd has undertaken a survey to gauge the thoughts of potential first-time buyers stuck in the rental trap.

Of those surveyed, 81% said they would prefer to be homeowners and 94% said they believed the government is not doing enough to help.

There is a lack of optimism for the future too. When asked if they thought it would be easier or harder to buy in six months&#39 time, 91% thought it would be harder or the same, despite recent statements to the contrary by Mervyn King, governor of the Bank of England.

Helen Adams, director of FirstRungNow Ltd, says: “As an increasing proportion of one and two-bedroom properties is now owned by buy-to-let landlords, stock available for purchase by first-time buyers is decreasing and property prices have risen. Rather than increasing interest rates, which penalises all property owners with mortgages, some way of discouraging the landlords who purchase these types of properties should be devised – perhaps by some form of tax. The situation as it is now means that joint ownership is one of the few credible options available for many.”


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Abbey&#39s Introducer Internet clicks into action for online insurance applications

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Financial services employees most satisfied with their jobs

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Base rate increase bad news for borrowers, says Moneyfacts

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Finance is only one hurdle for small developers

The housebuilding market in its current form simply isn’t working. We are completely over-reliant on the biggest players in the industry – the largest nine are responsible for more than 50 per cent of the new homes built in the UK. But there is a reluctance to do more, particularly in this uncertain post-Brexit world. And with […]


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