LETTER: Help2Buy will get me on property ladder
I’m 22, and never thought I’d be able to get the deposit together to buy my own home until the Budget last month.
I was chatting to some people about this, and it would seem the Government is doing a great deal to encourage home ownership.
Having looked into this more, I think the new Help2Buy scheme could be just the thing people like me need to get a leg up on the housing ladder. It means I will essentially be able to get a mortgage with just a 5% deposit, and the Government guaranteeing 20% of the mortgage. I would think there are a lot of people around here who just presumed, like me, they would never be able to get a mortgage.
Hopefully, this new announcement will be something that gets a large part of my generation on to the ladder, and the property market moving again. It gives me something to work towards and aspire to.
I presume it was nothing more than a coincidence the Chancellor made this announcement just a week after John Rowe’s letter.
I can’t imagine much of what he said was of interest to the Chancellor, but Mr Osborne is to be congratulated for giving people my age a chance of owning a house they can call home.