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C B I Calls For Measures To Help Home Buyers.

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'CBI calls for measures to help home buyers':


The government should back measures to help home buyers and boost infrastructure spending to get the British economy moving, business lobby the CBI said on Thursday. The comments come ahead of the ruling Conservative party conference next week when finance minister George Osborne will face pressure to spell out how he plans to boost faltering economic growth.

CBI Director-General John Cridland noted that the number of first-time home buyers had fallen to 36,200 in the first three months of the year, down from a peak of 167,400 a decade ago.

Rising property prices and tighter lending after the credit crisis has pushed up the average age of first-time buyers.

"Now is the time to stop the stagnation and get the housing market flowing again," Cridland said in a speech to a dinner in north-east England.

"The CBI wants to see a revitalised Mortgage Indemnity Guarantee, to reduce the risk of higher loan to value mortgages," he added.

"One way this could be done would be through a deal between mortgage providers and house builders. There could also be a role for government to step in with some very focussed support to bridge the gap," he added.

The Mortgage Indemnity Guarantee is a form of insurance taken out when buyers have to borrow a large part of a loan. It fell into disuse during the housing boom when negative equity became less of a threat.

Cridland said another way to boost ownership would be to allow buyers to access savings in their pension schemes through a loan-back scheme, while shared ownership could also be explored.

Cridland said he wanted Osborne to use his annual autumn statement to parliament on Nov 29 to revive the housing market.

He also renewed his call for higher spending on infrastructure projects such as transport and power stations, with the private sector providing much of the funding in partnership with a cash-strapped government.

"It will help unlock some of the 60 billion pounds of potential investment currently on company balance sheets and could create new jobs into the bargain," he said.

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They're not thick at all. They've just figured out that the easiest way to make money in the UK in 2011 is to have the government hand you cash, have the government hand your customers cash which they can only spend by buying your services, or have the government grant you a monopoly which you can charge people to access.

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I want the CBI to push for changes to the outdated "mark to market" dogma that depresses the price of my house.

And get more Eastern European labour here to build all those new infastructue projects too, just like they did last time when they lobbied the government on the benefits of immigration to (their) economic growth. They only want what is best for us, after all, don't they?

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Just to remember that CBI stands for The Confederation of British Industrys :lol:

(actually it's not that easy to find out what the initials CBI stand for from their website these days)

Maybe they should change their initials to CBHI.

The Confederation of British House Industrys.

Not that they're hypocrites or betraying British industrys (or the people who work/worked in them) or anything like that.

Edited by billybong
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Cridland said another way to boost ownership would be to allow buyers to access savings in their pension schemes through a loan-back scheme, while shared ownership could also be explored

Another proposal to help to undermine pension schemes and investment in the traded sector in order to bolster the housing market to more inaccessable levels. What about the traded sector and what about industry, CBI (Confederation of British Industrys) and all that .

Well done Cridland but perhaps it's time you resigned your position.

Edited by billybong
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In the old days it was the person wanting the mortgage who had to pay the premium for the Mortgage indemnity up front with no government backed guarantee.

Yes I remember that very well


Jeess - WADDA MORON!?!? :rolleyes::rolleyes: It is MIND BOGGLING that this guy is chief of the CBI...!



Not that they're hypocrites or betraying British industrys (or the people who work/worked in them) or anything like that.

Was in a shop yesterday looking to buy well known shoe brand, much to my disgust shop owner said they are made in China now, no shipment in my size for 3 weeks at least. He added "We don't manufacture hardly anything in this country no more".

Wouldn't a 50% fall revive the market quite nicely?

That is the best help they could give first time buyers - to stop propping up the ponzi. But they will argue it will take too long for most FTBs for the prices to drop and they want to buy now or move for work, or whatever lame excuse they come out with. Quite shocked to see no real price falls in houses or flats in my old area when I checked on RM, this time last year there were a few houses sub £250K but this year they aren't apparent. There are a few of the higher league ones that came down to offers over £250K or £275K but the sub £250K houses which were around in small numbers last year are not currently shown as for sale nor sold - which is pretty annoying, smug gits with City money no doubt using taxpayer cash to prop it all up

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Well, clearly the best way to help the housing market is to begin a mass bulding programme for jobs.

Cumpulsory purchase of land so the planning gain remains with the community.

The homes would be for rent by mutual 'building societies' that actually, you know, build stuff rather than pumping credit into the existing stock.

All profits from rents to be ploughed back into building more and better quality homes.

Offer a 'right-to-buy' scheme for tenants of at least 10 years standing....but at market rates.

Property types would be to suit a range of pockets - not just mass building of 'cheap' affordable housing.

That is my manifesto for the CBI.

Bloody communist

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The cretins of big industry have been making calls for low interest rates for the last decade - result - malinvestment, debt and industry priced out of the UK, well over a million productive jobs lost.

There is no limit ot their myopia and not one bit of reflection on their part egging on the most destructive debt bubble in history, and they want more of the same.

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