The Liberal Democrats have stated that they will increase the number of homes built in the UK, as well as setting up a new scheme to help renters, should they win a majority in the upcoming election.
The party’s manifesto includes a policy for the annual construction of 100,000 homes that will be available on a social rent basis, while also indicating that it considers this number to be the absolute minimum. In total, the Lib Dems are planning to increase the number of houses built per year in the UK to 300,000.
Its election manifesto argues that many people are unable to find good quality homes in their chosen area, due to a combination of housing demand outstripping supply and very high house prices. It goes on to suggest that the situation is no better for those renting, as doing so privately offers little security and there is a lack of social rent accommodation tied to income levels.
For that reason, the party is aiming to introduce a project called Help to Rent, which would provide those under the age of 30 who are looking to enter the rental market with government loans to cover the costs of their deposits.
Mortgage Advice Point director Hemat Natha told Mortgage Introducer that the ideas were very positive but needed to be acted upon in government.
More homes being built would mean greater demand for mortgages, and CeMAP mortgage advisor training ensures those in the industry have the know-how to meet the needs of customers.