Monday, September 9, 2013
Market forces require assistance from the government
George Osborne has used a speech in which he hailed the wider recovery of the UK economy to fight back at critics of his housing policies ... Most controversial of all has been Help to Buy, whereby the Government underwrites high loan-to-value mortgages ... But the Chancellor said on Monday that the average loan-to-value (LTV) ratio for first-time homebuyers had fallen from 90pc to 80pc. â€œThat is why the Governmentâ€™s Help to Buy scheme is a sensible, time-limited and necessary financial intervention to fix a specific financial problem: the dramatic reduction in the availability of high LTV mortgages," he said.