Extend eligibility for first time buyer schemes to previous owners

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Extend eligibility for first time buyer schemes to previous owners

Petition Details

The Government should change the law so that people who have not owned a property for 5 years are considered as first time buyers for the purpose of accessing first time buyer schemes such as Help to Buy and First Homes.

Additional Information

Previous home owners can find it very difficult to get back on the property ladder. Many have sold their homes under exceptional circumstances such as growing family, economic reasons or loss of work. Some parents are unable to continue their careers after having children, as the cost of childcare can outweigh the benefit of working, and this can force them into rented accommodation with little hope of getting back on the property ladder. This can be a particular problem for military families.

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