Pre-Budget Report 'should support' first-time buyers

The government should offer more support to first-time buyers in its forthcoming Pre-Budget Report, one organisation believes.

According to the Association of Mortgage Intermediaries (AMI), the report should ensure that Shared Ownership initiatives provide further incentives to young property investors.

Meanwhile, the body also believes that steps should be taken to encourage the development of a mortgage market which is more competitive.

The AMI's director Robert Sinclair believes that the Pre-Budget Report could additionally focus on the issue of Stamp Duty.

Mr Sinclair commented: "The current holiday on the duty should be extended until the market has recovered.

"By helping more first-time buyers onto the property ladder this extension can serve to revitalise the market."

Last month, the AMI announced that it was backing new Treasury plans concerning the buy-to-let sector.

In a development that could impact on property investors in Northern Ireland and other UK regions, the proposals could raise the amount of regulation found within the buy-to-let mortgage market.
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