Central government versus local authorities in saving the housing market

Fri, 11 Jul 2014

Central government versus local authorities in saving the housing market
It has been claimed that Help to Buy is a copied version of a scheme originally designed and implemented in Warrington by the local council, in order to get the young local people into the property market. It is a scheme that was never built to work on a nationwide scale.

The Local Government Association was told this week at a conference in Bournemouth, that David Cameron picked up the scheme and turned it into his government's flagship movement after it spread to 60 local councils, with it helping over 200 young people in the borough of Warrington.

Terry O'Neill, leader of Warrington Borough Council, reportedly made the claim. "The coalition government copied the policy... but our average mortgage is £130,000, and the government has got it wrong. I think they have damaged the housing prospects of some of young people" he said.

"It's councils in this country that are really leading this charge... We're the ones who are driving the renaissance in this country" he added. His council have also managed to create a lending scheme that helps out local developers, generating more homes and making the council a respectable 1.25% return on investments that have reached as high as £100,000.

The conference also heard about a Peterborough scheme that is installing solar panels on both public and private buildings, and making money back off of them.

These examples show that local councils are thinking ahead which is necessary to reboot the economy.

Whereas the central government is rolling out (supposedly copied) schemes across the country, and sparking massive debates on overheating the economy, local councils are focusing on smaller areas and making impressive headway in many areas, including the housing market.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company

HomeBuyService.co.uk is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch