tmGroup CEO reacting to today’s budget speech

tmGroup CEO Matthew Green reacting to today’s budget speech:

Any measure that helps more first-time buyers on to the ladder is good news for the whole market. But firms will remember the extra administrative and time pressures the Help to Buy scheme placed on conveyancers, much of it absorbed on fixed fees. A scheme can only move as fast as the transactions that complete it, so if Your First Home is to deliver the volumes the government has targeted, the legal side of the transaction must be considered now, with digital processes, realistic timescales and clear guidance before launch. We’d encourage the government to bring conveyancers into the scheme’s design process to give it the best chance of success.

It is, however, disappointing that the government has chosen to defer implementing the scheme until the Spring, which misses an opportunity to provide immediate incentive to buy a property. We urge the government to provide certainty by committing to a more specific implementation date.

Kindly shared by tmGroup