Government help for UK housing industry

Earlier this week government Housing Minister Grant Shapps delivered a speech to an audience of local councils that explained a range of measures designed to boost the struggling UK property market.

As a result of the planned schemes the Minister promised policies to aid first time buyers take that all important first step on to the UK property ladder, increase the amount of properties available for social housing and in the process get the construction industry back to work building houses for future generations of UK citizens.

Mr Shapps discussed features of the NewBuy Guarantee scheme which is due to be launched in March with buyers of newly built properties in mind – for those who qualify a deposit of £10,000 will be enough to secure a new home rather than the usual much heftier deposit required by most lenders.

Local councils will be rewarded with a cash sum for providing new homes and for ensuring vacant properties are made ready for tenants to move into.