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03 | 03 | 16

‘Second Steppers’ deserve a break too!…

Posted by: katalysis

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Let us spare a thought for those of us who aspire to, or maybe need to, trade up their homes for something bigger/better/different – the so-called ‘second steppers’.
Historically, the natural uplift in value of their homes became their deposit toward the next one. A trip to their friendly bank manager did the rest and hey presto! We had a property market! Remove these two components and what do we have? – A stymied market withering on the vine. Sound familiar?
So, instead of these folk looking enviously at their ‘first-timer’ cousins grabbing all these ‘freebies’, to help buy non-existent stock, why not switch the focus by having less restrictive mortgage deals and opening up the ‘Help to Buy’ scheme? The middle market needs assistance too. Controversial, perhaps? But food for thought Mr Osborne, especially if you aspire to move ‘next door’!

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