What opportunities are there for first-time buyers currently?
There are significant opportunities for first time buyers. We currently are marketing a number of smaller nurseries which are ideal for these.
One of the biggest issues which has traditionally faced first time buyers is the funding gap between deposit and purchase price - especially if the buyer is looking for a leasehold property. Since January 2009 the UK Government has launched the Enterprise Finance Guarantee scheme which facilitates additional bank lending to viable small and medium enterprises which lack the security to secure a normal commercial loan. In certain conditions it is now easier to obtain finance for a first time buyer to purchase a leasehold nursery than before the credit crunch took place particularly if the buyer is experienced within the nursery sector.
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