Budget date revealed as Gove hints at new housing policies

Budget date revealed as Gove hints at new housing policies


Todays other news


The date has been set for the Spring Budget – the last before the General Election. 

It’s to be on Wednesday March 6 at around 12.30pm and as usual the announcements are to be accompanied by an independently-prepared economic summary from the Office for Budget Responsibility.

The news of the Budget date comes as the government has leaked possible policies to newspapers, with the emphasis on schemes to woo votes from first time buyers.

The Times reports that Housing Secretary Michael Gove says there will be “definitely” be schemes aimed at boosting demand from younger would-be buyers.

These include much longer term fixed rate mortgages with government guarantees against default – similar to loans currently available in the United States.

Gove tells the paper: “We have been asking the question, how can we ensure that people with decent incomes who are finding it difficult because of the scale of deposit required to get on the ladder?

“I don’t want to pre-empt anything but it’s about looking at some of the rigidities in the mortgage market that they don’t have in other jurisdictions.”

Other options include a new version of Help To Buy, which used to offer first time buyers equity loans for up to 40 per cent of the purchase price of properties with the need for only five per cent deposits.

The Times also speculates that the government is considering changes to stamp duty to help FTBs further.

YouGov polling for The Times shows only 11 per cent of 24 to 49 year olds say they will vote Conservative at the next election; 43 per cent of over-65s say they will.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
Andrews Property Group is under charitable ownership...
The supplier says half of its clients now use open...
Some 7,700 homes have been lost in one year in...
The Welsh Government is backing the call for a 'compensation'...
There will be a greater emphasis on digitisation....
A consultation document is being released today....
Recommended for you
Latest Features
Andrews Property Group is under charitable ownership...
New tenancies in England and Wales are at their lowest...
The Scottish system would differ from the UK system in...
Sponsored Content
Tenants want a place they can call home—somewhere comfortable, safe,...
Letting agencies face the dual challenge of keeping both landlords...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here