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Displaying ROOF Blog articles tagged with Government
04/12/2023
Housebuilding in England’s 11 Pathfinder areas is set to halve for the coming two years because of the decline in mortgage availability and house sales. The Pathfinder scheme was designed to construct affordable homes for sale as a means of regenerating some of England’s most run down urban areas. The government has committed £2.2 billion to the scheme between 2002 and 2011 to build up to 10,000 homes a year.
04/12/2023
The Queen’s speech outlined just 13 new bills for the new parliamentary session - focusing on helping Britain through the economic downturn. The centrepiece of the proposed legislation is a banking bill designed to improve financial stability and allow the Treasury and FSA to intervene to prevent another financial crisis. A welfare reform bill plans to make the long-term unemployed start training courses or face benefit cuts, as more councils extend the use of lie detector tests for people claiming benefits. There will be ‘incentives’ for those returning to work and ‘consequences’ for those who do not.
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04/12/2023
Barclays, HSBC, Lloyds and Northern Rock yesterday said they believed their current policies regarding repossession were adequate, and they will not allow six months of mortgage arrears to accrue before taking action. UK Financial Investments, the body created by the government to manage its stake in the banks, said yesterday it was in ‘active discussions’ with lenders about their future strategy.
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04/12/2023
Mortgage ‘rationing’ will be more severe in 2009 without government action, the Council of Mortgage Lenders (CML) said yesterday. There will be fewer lenders and less money, bringing the mortgage market to a standstill. The CML director added that a return to the level of lending in 2008 was a distant goal and represented a real challenge.
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