Right to buy votes?
14th April 2015
In resurrecting a policy that appealed three decades ago, the Conservatives are hoping that lightening can strike twice and voters will react accordingly.
However times are very different and years of selling off the very stock that needs to be replenished, often to end up in the hands of private landlords, has helped to cause some of the housing issues we have today.
Although there is some strong talk about monies raised going towards rebuilding more homes, it seems that this may not be nearly enough and will not be able to happen without a costly time lag.
Furthermore, given the recent changes to the mortgage market under the Mortgage Market Review, will applicants be able to meet the new affordability calculations to borrow the amounts required?
Initial reactions suggest a possible miscalculation with regards to this particular policy which amounts to selling off the local authorities silver at knock down prices to a fortunate few.
Those in the private rented sector, working hard to save a deposit may have every right to feel more than a touch peeved.
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Andrew Montlake, Director and Spokesperson for Coreco, gives his honest and forthright views on the mortgage market, economy and all things property related. Monty was voted "Mortgage Personality of the year 2008", "Best Press Spokesperson" in 2011 and is the current holder of the British Mortgage Awards “Best Marketeer” title. Expect expert analysis, delivered in a down to earth style with a side helping of exuberance.