The House government scheme allows first time house buyers to save 5% deposit and the government then guarantees 15% to avoid lenders mortgage insurance. Economists have warned that prices are not due to decrease any time soon, so these measures are necessary. These schemes will also help first time buyers get on the market ladder. In the Coalition’s budget in March the places available in the scheme were doubled to 50,000, and will stay at that number for three years before being cut to 35,000. This also includes 5,000 places for single parents who can access the scheme with only a 2 per cent deposit.
Should this scheme become permanent- is it feasible?