The government in the UK has made a number of new proposals recently to try and kick start the slow housing market, and amongst the actions taken by the government are a suspension in stamp duty for properties up to £175,000, and also the provision of loans for first time buyers looking to purchase new build properties. Industry groups and officials have offered mixed reactions to these moves, some of which can be seen below. (more…)
Posts Tagged ‘government’
Mixed reactions on housing proposals from government
Wednesday, October 8th, 2008
Mortgage bailout could cost taxpayers £40 billion
Saturday, October 4th, 2008According to some officials plans being looked into by ministers and the government to try and rescue the mortgage market could end up costing taxpayers around £40 billion. Reports have suggested that the government may will looking to underwrite billions of pounds worth of mortgages in a scheme that would see the type of government guarantee extended to Northern Rock also being extended to other home loans. (more…)
How will government help struggling homeowners?
Thursday, May 15th, 2008Following a recent meeting with banking and mortgage officials the government has announced that there will be help in place to assist struggling homeowners that are in danger of losing their homes due to mortgage arrears. This includes those that are coming off cheap fixed rate mortgage, many of whom could face losing their homes when their mortgage interest rate and their monthly repayments rocket once their current deal comes to an end. (more…)
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