LPDF Chairman Paul Brocklehurst Calls for a Clear Exit Strategy for New Equity Loan Scheme
LPDF Chairman Paul Brocklehurst has welcomed the Government’s proposed Your First Home equity loan scheme, but warned that it must give buyers a realistic route to build equity, refinance and move on, as well as helping them take their first step onto the housing ladder.
In a blog for Red Brick, Your First Home needs an exit strategy, Paul highlights the challenges facing buyers in a market of higher mortgage rates and uncertain house prices.
He sets out five recommendations for the Government ahead of the Budget, including a longer interest-free period, more flexible repayments, a clear refinancing route and a contribution structure that works for smaller housebuilders.
Paul also stresses that support for homebuyers must go hand in hand with planning reform and the release of sufficient land to enable housebuilding.
Read the full blog here: Your First Home needs an exit strategy - Red Brick
