Downing Street Says

» Thursday, March 21, 2013

Budget

Asked about the right to buy a second home under the mortgage guarantee scheme the PMS said the Chancellor has been very clear that the policy intention is to support people who want to firstly get on the housing ladder and then move up it. The policy is also about affordability of mortgages and there is now a process of consultation with the industry on the implementation.

Asked how confident the Government was that the consultation will come up with a way of preventing people abusing the system the PMS said the point of technical consultations is to work very closely with the industry on a range of policy areas and that is exactly what we will do.

Asked why the Government was only including new builds in this scheme the PMS said we have a range of housing interventions to address a number of issues including supply, access, affordability and the impact on the construction sector.

Asked if the intention of the consultation was to stop people buying a second home the PMS said the intention is very clear and the process of consultation is focused on implementing the policy intention. The Government recognises the desire that a good number of families want access to the housing market and this policy is design to support that.

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Budget

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