View more on these topics

Brokers say social housing move will aid FTBs

Funding for 10,000 social housing units a year by 2007/08 is part of a housing budget for England of £1.3bn a year announced by Chancellor Gordon Brown in the spending review this week.

The news has been welcomed by brokers who say the move will help first-time buyers and lead to a wave of innovative products aimed at key workers.

The England housing budget is to rise by 4.1 per cent from £5.9bn this year to £7.2bn by 2007/08.

Chadney Bulgin partner David Thomas says the increased funding will help first-time buyers pushed out of the market by buy-to-let investors. He says social housing is an excellent way to help people who are struggling to get a foot on the property ladder.

London & Country broker David Hollingworth says increasing the supply of social housing, especially in the South-east, is a big step towards solving supply problems.

However, Hollingworth says it remains to be seen how the new stock will be split between being available for rent, to buy or shared ownership.

Park Row Mortgages managing director Kevin Paterson says: “I expect to see more innovative products for first-time buyers and key workers, which is a sector of the market that more lenders need to enter. Social housing will be a big growth area.”

Recommended

Scottish Widows appoints director of strategy, planning and monitoring

Scottish Widows has appointed Tony Owens as director of strategy, planning and monitoring. He will be responsible for the evaluation and design of business reviews and recommending developments and modifications for Scottish Widows. Owens joins from Blas where he is a corporate strategist. Prior to that, he was head of planning and analysis at Martin […]

A scatter gram approach

In my last few articles, I have discussed how standard deviations can be used to measure the volatility of asset classes, sectors and funds, so providing a key tool in portfolio planning. By way of a quick reminder, the higher the standard deviation, the higher the historic volatility of an asset. Thus, the relative volatilities […]

Tories plan to ease annuity uncertainty

Conservative Shadow Work and Pensions Secretary David Willetts is calling on the Government to issue gilts indexed to changes in longevity to ease risks faced by annuity providers. In a speech to thinktank Politiea last week, Willetts claimed the plan would boost annuity returns by relieving product providers of some the risk they face from […]

Smoke gets in your CIs Safety net is full of holes

FSA regulation could unintentionally restrict access to payment protection insurance as consumers become increasingly aware that they need to protect themselves and their borrowing. The onset of regulation will have a significant impact on the distribution of payment protection insurance.A big decision faces those who are not full-time professional insurance intermediaries but who are currently […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com