Wednesday, January 05, 2011
5th January 2011
Ahead of Housing Minister Grant Shapps's meeting with the FSA,
chief executive of the NAEA, Peter Bolton King, said:
"It is crucial that the FSA's review of the housing market is
not allowed to dash the dream of hundreds of thousands of people to
own their own home.
"If the current proposed restrictions are applied, more than
150,000 house purchases each year will not take place. Lower income
families and young first time buyers will bear the brunt of
this.
"The knock on effects will be to put more pressure on both the
private and social rented sectors and to decrease the supply of new
homes at a time when the UK is already suffering a housing
shortage.
"Responsible lending must be made available to responsible
people and I hope that Mr Shapps makes exactly this point to the
FSA. I look forward to hearing the outcome of the meeting."