Helping first time buyers?

Question

What would you think the Government can do to make things easier for first time buyers?

Me and my husband still rent our flat and I can never see us realistically buying somewhere.

Answer 1

I heard yesterday they were thinking of suspending stamp duty.  I wouldnt buy for the first time at the moments anyway until the market stabalises as you may end up in negative equity.  Even if SD is suspended, as soon as it ends, the market will go down again.  I dont think the government really want to help anyone apart from themselves.

Answer 2

They can do nothing very much apart from let the property market continue to plunge.  

Answer 3

Try going to a financial adviser, they may be able to help and the first consultation is usually free. I work for one at the moment, and we have all sorts of clients coming to us in all sorts of financial situations, so you never know, they could help.

And they don't cost anything either. Most adviser will offer you the option to pay them by way of commission from the mortgage lender so you won't be out of pocket.

The only other option is to keep renting and save as much as possible. The way things are going, you've probably heard, it looks like we're heading for a recession. Many people are in the same boat as you, and in teh end something's got to give!

Answer 4

Suspension of stamp duty may help.

The economy will pick up.

Local authorities may be given the right to assist.

Answer 5

Whatever the Government do, they will be doing for the short term. At this time they cannot afford to reduce taxation for any length of time. In any case they will do what they consider will win them votes in the short term.

Yours is an old challenge faced by many others  and many others have triumph over  such a chanlenge. Your short of capital, to over come this you can, beg steal, borrow or save. Saving is the option most people take.

Your first consideration is want you can do to help yourself. This means you must forego having children. Save as much each month  as you.  Make do with spending less, spend only what is essential.. Can we both work overtime, can we both get  second jobs. Consider living with parents or inlaws. Can you both find work in other parts of the country where housing is cheaper.

Good luck!