Gov't housing measures 'will not solve underlying problems'

04-Sep-2008

New housing measures announced by the government are disguising the real issues at hand, according to one expert.

The free loans idea is criticised by Katy John, a representative from PricedOut.org.uk, who accuses the government of failing to address the problems behind escalating property prices.

Ms John says: "This is a sticky plaster that fails to address the real underlying problems and causes that are preventing would-be first-time buyers (FTBs) from getting on the property ladder."

Irresponsible lending, an increase in buy-to-let properties and second home ownership are named by the expert as the real problems facing today's housing market.

Building more homes, scrapping tax breaks for buy-to-let lenders and regulating mortgage lending are areas she believes could result in real changes.

Earlier this week the government announced a £300 million HomeBuy Direct scheme to allow FTBs with a household income of less than £60,000 the opportunity of an equity loan of up to thirty per cent of the value of their house.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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