The current generation of first time buyers were already facing struggles in taking their first steps onto the housing ladder and the economic implications of COVID 19 have not helped with this. Reportedly average house prices are now nearly eight times the average UK wage meaning that, with mortgages limited at circa 5 times salary with even the cleanest credit rating, first time buyers are needing on average 3 times their annual salary saved as a deposit. 

The Queen's speech  introduced the government's idea for a 30% discount policy for local buyers and previously Government initiatives have included Help to Buy, Help to Buy ISAs, Shared Ownership Schemes and Stamp Duty incentives; however,  would the introduction of a scheme of regulatory capital relief to lenders on first time buyer mortgages be an alternative way forward?