House builders’ organisation the Home Builders Federation has set out the measures would like to see brought in to this week’s Budget in order to tackle the housing crisis.
HBF has called for a replacement of the HomeBuy Direct shared equity scheme to help first time buyers onto the housing ladder.
It wants the government to work with lenders and housebuilders to alleviate the lack of mortgage funding in the market and to introduce solutions such as mortgage indemnity insurance, and tax incentives for a First Time Buyers deposit savings scheme.
“By tackling our current housing crisis, we would create 200,000 jobs a year,” HBF executive chairman Stewart Baseley said. “This is a critical budget for the government if it is serious about its commitment to increase housing supply and boost the economy.”