New buyers ‘should not be discouraged’ says expert

John Lusty, managing director for Bloor Homes Southern 'Picture: Andrew Carter
John Lusty, managing director for Bloor Homes Southern 'Picture: Andrew Carter

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DESPITE speculation that the Bank of England could increase interest rates in a matter of weeks, a housing development expert has said that people should not be deterred from buying a new home.

John Lusty, managing director for Bloor Homes Southern, said: ‘Those thinking about purchasing a new home should not be discouraged.

‘The rate is not expected to dramatically increase in the foreseeable future and the availability of buying incentives mean these are still favourable market conditions.’

To maintain affordable options, the Help to Buy scheme is set to receive a £10million injection from the government.