Labour to tackle affordability with housing department if elected | Construction Buzz #116

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NEC BIRMINGHAM   10-12 OCTOBER 2017

Labour

The Labour party would set up a Government housing department to tackle affordability if elected, according to its manifesto published today.

The manifesto says: “Labour will establish a new Department for Housing to focus on tackling the crisis and to ensure housing is about homes for the many, not investment opportunities for the few.”

The department would be responsible for improving the number, standards and affordability of homes.

The party also promised to build at least a million homes, including 100,000 council and housing association properties a year for “genuinely affordable rent or sale”.

Labour would also extend the Help to Buy equity loan scheme until 2027 if elected.

The scheme is currently set to expire in 2020, while the Help to Buy Mortgage Guarantee scheme ended in December.

The manifesto says: “We will guarantee Help to Buy funding until 2027 to give long-term certainty to both first-time buyers and the housebuilding industry.”

The party also pledged to keep the Land Registry public and not sell it.

If elected, Labour adds it will bring in caps on rent rises, introduce more secure tenancies and license landlords.

Source: Mortgage Strategy

 

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