The majority of MPs support first-time buyers

83 per cent of members of Parliament are unanimous in thinking that first-time buyers must be given help to get onto the property ladder, a recent study has revealed.

The survey conducted by Genworth Financial has shown that 83 per cent of members of Parliament think their constituents cannot do without the government support.

According to the findings, about three out of four MPs are told by Britons that first-time buyers cannot get onto the property ladder.  London-based constituents are in the most difficult situation in this respect.

Consequently, 77 per cent of MPs said that helping first-time buyers enter the housing market was a meaningful policy goal for them.

This attitude appeared to be the strongest among Conservative MPs, with 92 per cent willing to foster home ownership.

In addition, 84 per cent of the MPs surveyed responded that if first-time buyers were given the access to the housing market, the overall economical situation along with the social mobility in the UK would be improved.

In addition, 75 per cent said that people who have a regular source of income, but don’t have enough savings to put down a deposit, should be given access to mortgages provided they can afford to make repayments.

 


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The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.