Newly appointed housing minister Grant Shapps MP has said the government will promote home ownership amongst the UK population.
In a speech to the Royal Institution of Chartered Surveyors he pledged to help more people get onto housing ladder by slashing red tape, promoting shared ownership schemes for key workers and making it easier for social housing tenants to buy their homes.
Shapps says that 1.4 million people want to buy their own home: “The age of aspiration is back. Another quarter of a million people can afford a mortgage of at least 80%loan-to-valuation, but can’t find a lender.
“The banks and building societies will be asked to come and see me to explain why that is and what they plan on doing about it.”
Shapps also said that he understood the concerns of the housebuilding industry about the changes from previous planning policy to a more locally-centred system and that new “powerful incentives” would encourage home building. He added that he hoped to make a planning policy announcement to parliament within a month.