A leading Conservative politician has blamed the prime minister for making it more difficult for first-time buyers (FTBs) to get onto the property ladder.
[UKPRwire, Fri Nov 02 2007] Philip Hammond, shadow chief secretary to the Treasury, says that Gordon Brown's time as chancellor of the exchequer saw personal debt rise sharply and now potential young buyers are being hit.
It is bad news if you are looking for someone to buy your property and Mr Hammond said that the prime minister is to blame.
"Gordon Brown's decade at the Treasury was characterised by years of easy credit fuelling a house price boom and a mountain of personal debt," he commented.
"But he has left to his successor a legacy of falling take home pay and an increasingly ferocious credit squeeze - with homeowners and would-be homebuyers left to pick up the pieces.
"This will make it even harder for first-time buyers to get a foothold on the housing ladder," added Mr Hammond.
Julian King of National Homebuyers says, "Less buyers means less profit in your home.
"With continued restrictions on FTBs - which is the total opposite of what the lenders were offer a few months ago - there will simply not be enough people to buy properties on the market".
Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm that guarantees to make an offer on any property in the UK for vendors who need a quick sale.
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