The Prime Minister is planning to extend shared equity schemes to make
home-owning more affordable for first-time buyers as part of a range of
measures aimed at helping those hit by the credit crunch.
Those with mortgages who were hoping for a further cut in borrowing costs
were left frustrated after the Bank of England kept interest rates at 5 per
cent. But the Chancellor, Alistair Darling, and the Housing Minister,
Caroline Flint, will announce a new package of measures to support
home-owners facing difficulties.
The Prime Minister is to make affordable housing a centrepiece of the draft
Queen's Speech to be unveiled next week as part of the efforts to revive the
feel-good factor among Labour voters who deserted in droves at the local
elections.
Gordon Brown aims to extend shared equity schemes and he is being pressed by
some of his allies in the North-east to allow councils to embark on a major
council-house building programme to create more homes for rent.
Today Mr Darling will announce an additional £9m over three years for debt
advice provided by Citizens Advice Bureaux, which are reporting rising
numbers of mortgage-payers running into financial trouble.
Ms Flint will also announce measures to prevent a rise in repossessions
including expanded access to free legal representation at county courts for
householders at risk of having their homes seized by banks or building
societies.
However, Mr Brown's target of building three million new homes was dismissed
by the television presenter Kirstie Allsopp.
Allsopp, the co-presenter of the Channel 4 housing show, Location, Location,
Location, gave her backing to the Conservatives' plan to abolish stamp duty
for first-time buyers on houses up to £250,000 and said Mr Brown's target of
three million new houses was not achievable.
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