Saturday, Feb 14, 2009
How long until we all live in council houses again...?
Timesonline: The return of local authority mortgages in sight
Government cuts the interest rate that councils must charge homeowners for mortgages to 3.93 per cent.
The Government has paved the way for the return of local authority mortgage lending by cutting the minimum interest rate that councils can charge homeowners.
Council leaders said last night that the Department for Communities and Local Government had given them a green light to intervene in the UK’s stricken mortgage market after the “national standard rate” was cut from 5.07 per cent to 3.93 per cent yesterday.
Posted by northern munkey @ 02:53 PM (331 views) Add Comment
2 Comments
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1. paul said...
And now we have state-sponsored support for an entire asset class, to keep it unaffordable for taxpayers.
In hot countries, that's called corruption.
2. Baudot said...
So, the leader of Lambeth Council wants to offer cheap mortgates to "people with good incomes and stable jobs". That'll be another perk for the public sector employee then.