Sellers left stranded on second rung of the housing ladder

Some schemes, such as the one announced recently offering homebuyers in London loans of up to £240,000 only allow potential buyers the ability to purchase new-build properties. This obviously has a real impact on second-steppers as it puts their homes completely out of the market and out of reach from these eager first-time buyers. In order to compete with new-builds, therefore, people looking to sell will have to market their home at a price which competes hard with that for a similar new-build property.

The Independent on Sunday