Budget emergency plan for housing market revealed

Social housing is also expected to feature strongly – with the Government tipped to buy a stake in many new-build properties which developers have been unable to sell.

This is likely to include both joint equity schemes and also the conversion of property from private to social housing use, according to the Guardian.

A major programme of council house building is also expected to be unveiled.

And it is claimed that the Treasury will offer to underwrite £50billion of new mortgage-backed assets.

This would boost additional lending from the nationalised bank Northern Rock.

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2 thoughts on “Budget emergency plan for housing market revealed

  1. Sell and Rent Back

    The recession is having a huge effect on the housing market. I am sure the budget will certainly be looking to kick start the economy. Increasing lending and raising the stamp duty threshold sound like reasonable suggestions. Buy to let should be given good mortgage deals or tax breaks to help provide rental housing.

  2. Below Market Value

    The thing is that first time buyers are finding it hard just to get approved for a mortgage in the first place with the amount of deposit needed and stringent credit requirements. So this stamp duty holiday is not cutting it. Especially in London where a lot of properties are worth more than 175K

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