Specific Housing Measures in the Short Term

This limited mindset was reflected in the specific short term housing measures announced. There was:

  1. a measure, not clearly specified, to reduce repossessions by supporting mortgage debt payers for rather longer than at present
  2. an intention to increase bank lending by £20 billion to ease access to mortgage loans
  3. an extension of the stamp duty ‘holiday’ on transactions under £175,000 till the end of 2009 and
  4. an extra £80 million for shared equity mortgage schemes (on which the take-up until March 2009 had in any event been zero according to the Leader of the Opposition).

It is difficult to see how any of these measures will be of any significant help to those Z2K is most dedicated to supporting. In fact the measures announced to help the motor industry by a £2000 grant to some buyers of new cars seem more significant – and better received by Labour Party MPs – although those most vulnerable in society are unlikely to be able to benefit from this measure.

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