Legislation News
Minister unveils new housing proposals
2008-07-16
New measures were announced by the government today - which might help buy to let entrepreneurs get on the property ladder.
Housing minister Caroline Flint indicated that surplus council land in areas such as east London, Manchester and Newcastle will be used for new home-building projects, boosting supply.
In addition, a new rental pilot scheme is to be rolled out to 75,000 households - which allows tenants to pay a reduced rent for two to three years while living in a property, before being allowed to move in to part-ownership.
Announcing the plans, Ms Flint said: "We are determined to continue to do everything possible to promote long-term stability and fairness in the housing market. The international credit crunch has created significant challenges not just for the UK housing market, but in other parts of Europe and the United States.
"However, the long term need to provide more homes has not gone away. We have a growing and ageing population and will only see worsening affordability unless we increase housing supply."
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