'I'm stuck in a vicious cycle and the government isn’t doing enough to help'

A young woman who has dreams to get on the property ladder says she is stuck in a 'vicious cycle' and that the government are doing enough to help. Alissa Barton, 32, has hit out at Jeremy Hunt after he failed to deliver any support to first-time buyers in the Spring Budget.

The property conveyancer from Stockport, who is saving up to buy her first house with her boyfriend Jamie, 28, said the lack of measures was 'disappointing' and that she is worried stamp duty will make it even harder for her to get a foot on the housing ladder.

Currently, first-time buyers pay no stamp duty on purchases under £250,000 - and 5 percent on anything over that. But Alissa says that nearly all the houses in the south Manchester area cost a lot more than £250k.

READ MORE: Martin Lewis 'disappointed' as he says why first-time buyer help left out of Budget

Alissa, who hoped first-time buyers might get more help in Wednesday's budget, said: "It's a vicious cycle. You can save 5 percent for a mortgage but then you have to pay additional for stamp duty. It's made really, really difficult to get on the ladder."

"It's more and more unachievable to afford a deposit. By the time you have saved enough to get a deposit, the price of the property has gone up".

Alissa's boyfriend Jamie has been saving for his first house using the 'Help to Buy' scheme - where the government tops up a buyer's total savings by 25 percent. But as this does not apply to homes priced at more than £250,000 - this means Alissa and Jamie are unlikely to get the bonus.

"It's an extra £1200 we need to find, which is hard especially given the cost of living crisis," she said. "The price of everything has gone up, meaning what's going into the savings is less," Alissa said.

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