60 Seconds With.....Grant Shapps

30 November 2009 | By Robyn Hall

The Conservatives have traditionally been the party of small business. Are you worried the proposed ban on self-cert mortgages

will stop self-employed people getting on the housing ladder?

Flexibility is important but what’s even more crucial is to have appropriate fiscal and regulatory arrangements in place. That’s not to say that I don’t believe there’s a need for innovative mortgage products - of course there is.

But it’s important that the rules governing the money markets are sorted out. That’s why we have said we will take the responsibility for this away from the Financial Services Authority and give it back to the Bank of England along with the power to oversee lenders and ensure they don’t lend irresponsibly.

Is the government doing enough to help first-time buyers?

Definitely not. We propose that all first-time buyers - or nine out of 10 of them anyway - should not have to pay Stamp Duty and neither should anyone buying a home up to £250,000. This would be on a permanent basis, not just a gimmick that expires in December as is the case with the present £175,000 limit. There are many things that need to be done urgently and we will have to look at the books but acting on Stamp Duty is a pledge for a future Conservative government.

What do you think about apparent Social Engineering by the Treasury and the regulator to push young people into renting rather than buying homes?

I think that the tenure of properties - whether people rent or buy - should be up to individuals based on their aspirations and circumstances. I certainly don’t believe the authorities should be pushing people in one direction or the other. But we know it is the aspiration of around 80% of UK consumers to own a home and the government should not stand in the way of them fulfilling that dream.

What would a Tory vote at the next general election do for the housing and mortgage markets ?

We will build more homes, we’ll help individuals meet their aspirations with regard to home ownership and we want to get the housing market moving again. In all these areas a Tory government would be a big help.

And by the way, we always perform better than Labour on the housing front - and change has never been more necessary.