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Rescue plan unlikely to work in prevailing mortgage market

The government’s rescue plan is unlikely to work in the prevailing market conditions as lenders are not keen to securitise on new-builds. This is a result of their inflated pricing in relation to other property types.

Added to this is the fact that lenders will probably still want to see deposits of some kind as they do with shared ownership schemes.

This will make it more difficult in the South-East where house prices are much higher so deposits will have to be larger too. In short it’s simply a case of too little too late.

David Prince

By email


PMS unveils ER referral scheme

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Government proposals are negligent

Last week the government unveiled a package of measures to rescue the housing market. The Stamp Duty threshold has been raised from £125,000 to £175,000 for one year. Housing associations can now buy homes from borrowers facing repossession and rent them back. They can offer shared ownership deals too.

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Prestbury ARs transferred to PTFS

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