Major changes to housing

Posted: 12 Jul 2007 10:31:47 GMT

            Property News - Major changes to housing

The government has pledged to build three million new homes by 2020.

The government has pledged to build three million new homes by 2020.

In a statement to the House of Commons, the prime minister said that housing is to become a "national priority" and will remain at the top of the political agenda.

He promised that 240,000 new homes would be built in England between now and 2016 and announced radical changes to make it easier for first-time buyers to get onto the property ladder.

A number of brownfield sites are to made available for new housing, while the planning system is set for a major overhaul.

In addition, Mr Brown said that chancellor of the exchequer Alistair Darling would consult on "creating a new regime for 'covered bonds' which will help mortgage lenders finance more affordable 20 to 25 year fixed-rate mortgages".

"Putting affordable housing within the reach not just of the few but the many is vital both to meeting individual aspirations and a better future for our country," continued the prime minister.

The proposals received a mixed reaction, though many organisations, including the Council of Mortgage Lenders, welcomed them.

However, Conservative leader David Cameron accused Mr Brown of being stuck in the past, adding: "A long list of Bills, the same priorities and the same failures, and I have to say we've heard it all before."

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