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PM promises housing help

‘David Cameron has promised help for families that are struggling to get on the property ladder.

The Prime Minister put himself on the side of home owners at a joint press conference with Liberal Democrat deputy premier Nick Clegg. He promised “more help for families who can afford a mortgage but are unable to raise a large deposit, so they can buy their own homes”.

The scheme is expected to mean the Government will underwrite some mortgages, making it less risky for banks to lend to those who cannot find the usual deposit. The PM also announced that £10bn will be spent on supporting indemnities to boost loans to individuals and developers building affordable homes to buy or rent.

In further moves to support house building the government revealed that planning rules will be relaxed and speeded up. Ministers will let developers challenge council quotas for affordable housing if they hold back schemes. More empty homes will be brought back into use, and public sector land released.’

Source: Evening Standard

Myfanwy Neville

Partner, Property and Construction

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