Menu

This is an archive site. For the main site, please visit https://homesforscotland.com

NewsArticle-31-05-2011

Latest news  /  Archives  /  Archive 2011  /  NewsArticle-31-05-2011
breadcrumb shadow

Blunt instruments should not be used to stabilise housing market

Home building industry body Homes for Scotland has rebuffed “recommendations” from the Institute for Public Policy Research (IPPR) that mortgages should be capped at 90 per cent of property values and at a maximum of three-and-a-half times household income.

The organisation’s Chief Executive Jonathan Fair said:

“Clearly, home ownership should be viewed as a sustainable, long-term commitment by those looking to get onto and progress up the property ladder so the debate on how to effectively stabilise the housing market is welcome.

“However, the issue of appropriate loan to value ratios and real affordability are wholly dependent on the particular circumstances of the individual concerned and should be assessed accordingly. Blunt instruments and arbitrary caps as the IPPR seem to want to recommend will not provided a balanced long-term solution.”

Ends

Enquiries to:
Jennifer Kennedy, Homes for Scotland – 0131 455 8350 / 07763 240694

Notes to Editors:

Homes for Scotland represents the country’s home building industry which, during the lifetime of the next Scottish Parliament, could:

- support the building of 46,000 much needed private new homes
- improve housing access by increasing the range and choice of housing options across all tenures
- stimulate the economy by creating 38,000 new jobs and more than 1,100 new apprenticeships
- tackle climate change by reducing carbon emissions in existing homes at no public expense whilst at the same time impacting fuel poverty

Yet, as a result of the economic downturn, housing supply is now touching all time lows. This is having far-reaching and long-term social and economic consequences for Scotland's population.

For up-to-date market commentary, visit www.homesforscotland.com or follow us on Twitter at http://twitter.com/H_F_S.

Text/HTML

Play your part and become a member today

Help us deliver the new homes that Scotland needs