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2.4
Written Submission 2.4 Mr Mark McBride
Dear Sirs,
There is no detail provided on the maximum size of deposit the states will provide or as to the maximum value of the property, however in the past I have found the first time buyer system to be unfair.
We were not able to afford to buy a first time buyer home and instead had to buy a 2 bed terraced property. At the time we purchased there were first time buyer homes for sale at Le Providence for £450,000. This was way out of our budget so we had to settle for a small 2 bed home valued at £320,000.
I would be concerned if the states are intending to provide deposits that would enable first time buyers to leap up the property ladder, past our 2 bed home and up to a 3 bed house.
This would result in less demand for our property, which otherwise would be the first step on the housing ladder.
yours faithfully, Mark