26 | 04 | 12

Buy pass operation?

Posted by: andrewlund

Mortgage funding the lifeblood of the housing market continues to flow sluggishly resulting in a chronic market malaise. Politicians, as ever, are keen to restore the patient to health. Cue the latest “Newbuy” initiative whereby the government (for which read tax payer) will effectively stand as guarantor for a select few of the so-called “boxed-in generation” (those who would like to trade up but cannot afford the average 15-20% deposit). Designed to entice Lenders to advance on a 95%LTV basis it is claimed the scheme could help up to 100,000 current and prospective homeowners. The catch is that only newly built properties are eligible so if you want to buy a period property on the second hand market then tough! The house builders must be laughing all the way to the bank. 
Andrew Lund
Andrew Lund

Compliance Officer for Legal Practice

Andrew oversees the Firm’s Quality Systems and is committed to making sure that our client’s receive the very best customer care and attention along with the best marketing and legal advice in the area.

Back to news and opinion listing

Cookies on this website
By continuing to use this website you are agreeing to our use of cookies.