Thursday, March 29, 2012

Good :)

NewBuy mortage scheme in crisis as lenders fail to support it, claims Home Builders Federation

The flagship scheme designed to revitalise the housing market and kick-start the economy is in disarray, as mortgage lenders fail to support it.

Posted by happy mondays @ 08:27 AM (1037 views)
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One thought on “Good :)

  • sibley's b'stard child says:

    No surprise there then; risk-free bung for the builders, risk of lending on a depreciating asset for the banks.

    At least’s Brown’s previous incarnations helped a whole treble-digit of hard-pressed, hard-working FTBs get a foot onto the mythical ladder. This one may well suffer the ignominy of being quietly shelved before then.

    Just goes to show Shapps my old son (a la FTB Summit) you can’t force the lenders to lend when they clearly don’t want to. Looks like those bungs from Persimmons and Bovis may well have been wasted. Still, it’ll all go to the re-election campaign. Bon chance.

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