Guarantee gives options to buyers
DAVID Treharne from Mortgage Advice Bureau, working alongside Dawsons estate agents has spoken out on David Cameron's recent announcement of the Help to Buy 2 scheme.
PM David Cameron announced the scheme at the annual Tory conference in Manchester. He told the BBC's Andrew Marr show the market was "recovering from a very low base" and first-time buyers needed help to get on the housing ladder.
"As Prime Minister I am not going to stand by while people's aspirations to get on the housing ladder are being trashed.
"If we don't do this it will only be people with rich parents to help them who can get on the housing ladder – that is not fair, it is not right."
David Treharne said: "The Help to Buy 2 mortgage guarantee has a clear purpose and will answer a real need by giving options to first time buyers and those homeowners who have seen their equity eroded and been unable to make their next move. It is undoubtedly a welcome initiative from a consumer point of view.
"Clearly there will be a flurry of activity as lenders bring their implementation and delivery plans forwards, once the final details of the scheme are confirmed. The important thing is for consumers to get clear, consistent messages about the mortgage guarantees, how they work and where they are available. Rather than becoming an overnight sensation, it would be in everyone's best interests if the scheme is managed in a steady and sustainable way."