Buy Now Rent Later

The government's latest initiative to help first-time buyers (FTBs) onto the property ladder is flawed and there are better measures it could have taken, a specialist website has claimed. Earlier this month, housing minister Caroline Flint announced that households earning up to £60,000 a year would be able to rent a home at 80 per cent or less of the market rate, enabling them to save up a deposit so they can then buy a share in it. However, Helen Adams has asserted that this scheme will make little difference and that the government would be better off taking steps that FTBs can understand, like removing stamp duty, rather than complicated ones that they cannot. Furthermore, she argued that rent now, buy later would have little impact in areas like the south of England and therefore suggested that the set £60,000 threshold should be abandoned and that limits tailored to individual regions should be brought in instead.
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