Rightmove's Firstbuy webpage reaches 1million views

Posted: 20/04/2012

The property portal website Rightmove launched the First Buy webpage just over a year ago in conjunction with the Government's NewBuy scheme and it’s proved very popular, recently reaching 1 million unique visitors. The First Buy webpage contains information for all potential buyers who seek to purchase a property with the NewBuy Scheme.

The NewBuy scheme allows mortgages to be set up with as little as 5% deposit to help those who aspire to buy a newly-built property. Developers pay the lender 3.5% of the purchase price while the Government provides an additional 5.5%, allowing mortgage providers to lend to people with a lower deposit than they would normally have to have.

Critics have deemed the new-build property scheme set up by the Government a ‘gimmick’ that will not help people who are on a low income to buy their own home, but will support the construction industry instead.

Rightmove’s First Buy webpage has proved so popular over the past year because it provides potential buyers with a search engine in the form of a map which helps to determine which HomeBuy agent is within their area.

Miles Shipside, the director of Rightmove has said that after research on the First Buy webpage, two in five first time buyers feel that they are more likely to get onto the property ladder thanks to the NewBuy scheme.

Have you been onto the First Buy webpage? Are you considering purchasing a new build property with the NewBuy scheme? Do you agree with the critic’s point of view?

Amanda McGovern, Pali Ltd

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(0) Comments mortage, property ladder, first time buyers, housing, Rightmove, FirstBuy, Government, NewBuy

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