Saturday, August 19, 2006

FTB summit welcomed by A&L

First time buyers 'summit' welcomed by Alliance and Leicester

Perhaps it's just the Firstrung team that see the irony of using the word summit to describe the 'Tory initiative' in relation to the plight of first time buyers; summit = peak, perhaps a suggestion that prices must come down from an unsustainable height?...

Posted by converted lurker @ 08:15 AM (610 views)
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One thought on “FTB summit welcomed by A&L

  • With the large number of current chains waiting on a FTB to come in at the bottom, you might have thought those higher up the chain would club together to get things moving. Say there was a chain of 5, if each contributed £5,000 to the FTB then the FTB can afford to get on the bottom rung, the houses all sell and everyone is happy. Alternatively, they could all drop there prices by say £40,000, each pay less tax and commission and then all make a contribution to the top of the ladder to compensate (as they would lose out ultimately). What’s the betting that these solutions are not mentioned at the FTB summit and it ends up as a demand to government to bail out the housing market.

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