4
Dec
Do not stop with preventing repossessions, government urged
The government has been urged to follow up its plan to aid
homeowners struggling to pay their mortgages with more help for
those trying to get on the housing ladder.
Yesterday's announcement of a payment holiday plan for those in
difficulty was welcomed by the National Association of Estate
Agents, but the organisation's chief executive Peter Bolton King
said more should be done to deal with other matters.
He stated: "The NAEA looks forward to hearing the measures the
government has in store for first-time buyers. New lending will be
vital in kick starting the housing market once again."
The government's plan will give homeowners in trouble a payment
holiday of up to two years, something that the Royal Institution of
Chartered Surveyors (Rics) has said may also help house
prices.
Rics chief economist Simon Rubinsohn stated that the consequent
reduction in distressed selling will lower the amount of properties
"flooding" the market.
