old buy or new buy scheme

75 Thanks
1,712 Posts
12 years ago
I think the Government is wrong to subsidise new property purchases when old properties are much better value for first time buyers.
There are a lot of landlords who would sell if there was a bit of support for the purchasers and the new owners would get a better investment that would keep its value. You only have to track prices of newbuild flats to see how easily new buyers can loose money. A similar sized ex rental flat could cost the new owner half as much as a new one and consequently would keep its value better.
I even have a tenant who wants to buy off me but cannot get the deposit together. I am not allowed to help by lending some of the money in the way new build developers do even though the tenant would benefit by getting great value and knowing all about the flat and the locality.

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