Apr
23

Some relevant comments on the UK Budget

Michael Coogan, director general of the Council Of Mortgage Lenders:

“The most important element of this Budget for the mortgage market over the long term may prove to be the new asset backed securities guarantee scheme. This potentially offers an opportunity to restart the capital market funding for mortgages that will be a crucial factor in delivering an adequate supply of mortgage credit.”

Gillian Charlesworth, RICS Director of External Affairs:

“The Chancellor has recognised the need for assistance to the housing market as essential to helping Britain’s economic recovery. Government action to support mortgage lending should help translate buyer interest, which has picked up in recent months, into actual sales. Additional funding for HomeBuy Direct and extending the stamp duty holiday should also encourage those wishing to get on the housing ladder. Measures announced by the Chancellor will help move towards a sustainable and vibrant housing market for the future.”

Ian Potter, operations manager of The Association of Residential Letting Agents:

“Yet again Gordon Brown’s administration has wasted an opportunity to improve the quality of stock of lettings property by failing to incentivise landlords through tax relief on labour and materials. Not only would this have helped to stimulate the market, particularly in the construction sector, but it would also have provided the greater standards of rented accommodation that this country desperately needs.”

Source: The Rat & Mouse

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