Lib Dems criticise 'token' FTB scheme

clock

A Government initiative to help first time buyers with small grants has been branded ‘tokenism of the worst kind' by the Liberal Democrats.

The proposed scheme would give qualifying buyers a grant of £1,500 to help with costs such as solicitors charges and furniture. However, the Liberal Democrats say the Government is ignoring the real problems created by the credit crunch and is doing little to help first time buyers. Commenting on the announcement, shadow communities and local government secretary, Julia Goldsworthy, says: “This new scheme is tokenism of the worst kind. The credit crunch is preventing many people from getting a mortgage they can afford, not the worry about solicitors’ fees.” She criticised the Governme...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read