View more on these topics

Green paper proposes new FTB help

The Government is pledging to plough an extra £3bn into affordable housing and introduce measures to stop private-sector builders from “land banking” in its housing green paper published this week.

The £3bn increase will see the Government dedicate £8bn overall from the comprehensive spending review for housing between 2008-11. It says it will build at least 70,000 homes a year by 2011.

Ministers are to look at strengthening the planning rules so that private-sector developers must put in place much of the infrastructure for a site within three years of gaining planning permission.

It will also look at whether accounting rules should be toughened to ensure more consistent disclosure of land holdings.

The green paper proposes a new 17.5 per cent equity loan scheme to help first-time buyers get on the property ladder. It will be available for those earning less than £60,000 a year.

Firstrungnow.com managing director Helen Adams says this would be an improvement on the Government’s Open Market HomeBuy scheme which is only offered by four lenders.

She says: “The widening of the shared equity mortgage market to all lenders in conjunction with a 17.5 per cent Government equity loan product would increase competition among lenders.”

Recommended

Personal sacrifice

Will private pensions be allowed an advantage over personal accounts

Out of balance

Peter French says the country’s financial situation has been running out of control with the effects about to hit home hard and advisers should be considering changing their clients’ investment strategies

Resolution opens up as it closes in on Friends

Resolution is closing in on the acquisition of Friends Provident in a move that would see it shift significantly away from its closed life fund consolidator model.Friends confirmed on Monday that it in advanced talks over a possible takeover by Resolution, sparking rumours that a rival could open an 11th-hour bidding war.The all-paper deal would […]

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