First Time Buyers Rejoice At Cameron’s Housing Strategy
David Cameron has today pledged to get ‘Britain Building Again’ with the help of the government’s new Housing Strategy. The strategy will see the implementation of a Mortgage Guarantee Scheme that David Cameron hopes will encourage mortgage lenders to offer 95% mortgages to buyers of new build homes. The hope essentially is that people on a good salary can start climbing the property ladder that in turn will help boost the economy with an increase in trade for builders, plumbers, distributers and all those involved in the housing industry.
For many first time buyers this is excellent news. This boost can mean first time buyers, like some here at Appliance House, stop paying high rent fees and instead invest in the solid foundations of their own home. David Cameron will also instigate a fund to kick start building projects that have stalled because of a loss of funds. It has been estimated that 130,000 approved projects had stalled but with the strategy starting in July 2012, 16,000 homes will be built which in effect will create 32,000 jobs and in turn inject more money throughout other industries.
On the face of it, the government and David Cameron’s new housing strategy seems a much-needed boost to the economy but only time will tell.