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FirstBuy is waste of money to keep house prices high

The government’s FirstBuy scheme, launched last week with 100 builders, has left me frustrated.

The government is wasting taxpayer money to keep house prices artificially inflated so builders can achieve bigger profits.

Why not leave market forces to let prices fall to affordable levels?

Shared equity properties are dangerous for first-time buyers.

They are five or 10-year time bombs and buyers will suddenly realise they have to pay interest on the loan and the mortgage when their overvalued property has gone into negative equity.

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Prepare for lifetime of servicing debts

Mortgage brokers know better than anyone the changing nature of debt in the UK and in particular the growing trend for individuals to arrive at retirement with outstanding mortgages or other debt. Many banks and building societies are also beginning to realise that within their interest-only portfolios lies a lifetime mortgage portfolio waiting to happen. […]

New broker poaches sales boss

Ian Baker, sales manager at John Charcol, is to join Capital Private Finance, the joint venture between Countrywide and Mortgage Advice Bureau. He will join as sales director and report directly to the board. Baker has been given the task of building up a team of advisers. Capital Private Finance is due to launch in […]


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