Brown wants confidence to return to housing

Posted: 16 Apr 2008 10:34:02 GMT

Gordon Brown wants the public to feel "secure and confident" about the economy and the housing market.

Gordon Brown wants the public to feel "secure and confident" about the economy and the housing market.

Speaking on Channel Four News, the prime minister said that he wants to see more mortgages being made available.

He also highlighted his desire to make potential buyers confident about the prospect of investing in property.

"Can we create the conditions in which people can get their mortgages, in which the cuts in interest rates are passed on to other homeowners?" he asked.

"I hope to see banks issuing new mortgages to intending homeowners. One of the problems in the market at the moment is that people wanting to buy homes for the first time are finding it difficult to get mortgages.

"You have got to have liquidity in the marketplace and so the Bank of England has injected an extra £15 billion extra liquidity this morning into the marketplace," added Mr Brown.

The prime minister said that more needs to be done and reassured Britons that he understands their "concerns".

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