Warning over first-time buyer scheme

A recently-announced government scheme to help first-time buyers onto the housing ladder may not deliver the right kind of housing, it has been stated.

HomeownersAdviceCentre.co.uk has commented that the government's new Rent to Homebuy scheme would be a positive step by buying up houses that have not been sold by developers, but warned that the type and location of these could be inappropriate for new buyers.

Spokesperson Al Elliot said: "It makes sense for the government to buy up housing stock that developers cannot shift, but will it not work out that most of these are the city centre 'luxury' type that have been hit most?"

He added that this could also mean the new residents paying a much higher level of council tax than they are used to.

Those unhappy with the homes available under the scheme may consider the self build method to get the location and kind of dwelling they want.

The government has stated that it hopes the Rent to Homebuy scheme will get 75,000 first-time buyers on the ladder in England.