Government asked for help with mortgages by Bovis Builders
David Ritchie, Chief Executive from Bovis Homes has asked the UK government for help in getting the UK mortgage market on track by looking into ways of unlocking mortgage liquidity.
It seems that the need for assisting first time buyers in getting onto the property ladder is being considered by the government. It aims to help with the availability of mortgages with first time buyers.
David Richie said that, "People need to be able to access finance to buy property and anything we can do to assist people getting on the housing ladder must be good." He added;
"While cost saving measures, for instance a stamp duty holiday, would be very welcome and would allow the cost of moving house to be reduced, if you can't get a mortgage to support your transaction, you're not going to get off the starting blocks."
"It would be a brave individual that could predict prices over the next six months. If prices were to fall significantly from here, we may have to come back and talk to you at the full year about the land position again."
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