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Keepmoat Homes welcomes Government housing boost

A local housing provider has welcomed government plans to tackle the housing shortage, whilst also boosting the economy, creating jobs and helping people to get on the housing ladder.

In a speech to parliament, the Prime Minister and Deputy Prime Minister promised to introduce measures to boost supply, ease financial pressures and help with demand.

The new scheme will also support increases in house building activity, help new homeowners and create jobs.

The managing director of Keepmoat Homes, Richard Bass, has welcomed the move.

He commented: “The government’s acknowledgement that a healthy housing market is an economic driver - fundamental to Britain’s recovery - is very much welcomed.

“It is the shortage of available homes which has driven the average private rents in England and Wales to an all time high at £718 per month, according to property specialist LSL.

“Yet, when it can be much more affordable for people to buy, the challenges of saving large deposits and securing mortgages can be a major barrier.”

One of the main areas the new strategy will cover is an indemnity scheme which will help up to 100,000 buyers who are currently frozen out of the housing market. The new proposals will help them secure loans on newly built homes with only a 5% deposit.

Housebuilders will also be given a helping hand, through a £400m Get Britain Building funding pot to restart construction.

Richard added: “We also applaud the moves to untangle the red tape which has stalled many planning applications and to create the infrastructure which will encourage more house building

“We sincerely hope today’s announcement addresses these issues and begins to allow developers to build the homes the country clearly needs.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .