The Council of Mortgage Lenders has just published an overview of the history and current state of the housing market. It has also published its own manifesto, as it believes current policies about home ownership sometimes contradict eachother.
It is calling for active public policy promotion of home ownership, more help for those on the cusp of affordability through the expansion of repayable grants, a move towards greater tenure flexibility, reform of the support and subsidy systems to remove inequalities between tenants and ownder, and the development of a cross party consensus for these principles to provide a long term policy framework.
Director general Michael Coogan says: “For too long, UK housing market policy has seemed disjointed and lacking in long term vision. This has resulted in some schizophrenic effects, where policies designed to help the market are directly contradicted by others that hinder it.
“The Government and the other political parties should be explicit about their intentions for the future of home ownership. Our manifesto urges policymakers to aim for policies that make the differences between owning and renting more fluid, helping the market to become more responsive and resilient.”