JohnL Wrote: ------------------------------------------------------- > First time buyers are OK (they get relief up to > 500K) - it's 2nd home owners and expensive > properties that are hit. > > 2nd home owners have been hit hard - and the > government is looking for money for the NHS this > autumn too. Having been a first time buyer recently i can say with certainty this is not true in my experience - it is harder than ever for people in our situation. Firstly, the government scheme only allows up to 450k which, although a huge amount for first timers, will buy you virtually nothing in most of London. Certainly not in ED. Secondly, without the benefit of the huge increase in property values over recent years providing equity for a deposit you have to save incredibly hard to afford the outlay (even with the current sluggish market, assuming you didnt buy here very recently there will have been a significant increase in your property value). Finally, with the absurdly expensive and largely unregulated private rental sector, where does the disposable income come from for first time buyers to save a deposit plus stamp duty, as well as afford increasing cost of living in london? I appreciate its hard for everyone, but to say first time buyers are okay is a bit of a stretch