Thursday, 30 June 2022

Sajid Javid to make changes to Help to Buy loans

LONDON: Sajid Javid, the secretary of state for Communities and Local Government, has told housebuilders that he will make changes to Help to Buy loans to help boost the housing market. Following the recent housing white paper setting out the government’s plan to reform the market, Mr Javid discussed various issues related to housing and how the government intended to address them at the Royal Society of Medicine. With regards to some housebuilders using leaseholds in an unfair manner, Mr Javid commented: “I don’t like legislating to fix problems like this. “But as a government committed to building a fairer society, I don’t see how we can look the other way while these practically feudal practices persist. “So, I will look to ensure Help to Buy equity loans are only used to support new-build houses on acceptable terms. “This will send a serious message to the building industry: if you want the government to help you build and sell homes, you have to sell them on fair terms.” Speaking more widely on the state of housebuilding in the UK, Mr Javid said: “…There is no doubt in my mind that the housing market is broken. “I know not all of you agree with that view.

“But as far as I’m concerned, any market that stops people accessing a basic human need cannot be said to be working.” Regarding the quality of new-build properties, he added: “It’s fair to say that new builds don’t always have the best reputation for quality. “And if it’s not solved, it risks undermining public confidence in new-build homes – something that would be bad for the sector and really bad for the country as a whole. “So, I want to see every new home built to the highest possible standards.” Alongside the technical quality, Mr Javid also called for higher standards in terms of the aesthetics of housing design. “When people come to me objecting to developments in Bromsgrove, for example, one of the main reasons they cite is unsympathetic design. “They know we need more homes, but they also know they’re going to have to look out of their window at them every day for the next 30 years. “Put more thought into design and you will take that objection away. “Get local people on board and you can secure permission more quickly and get building more quickly.” The full speech can be viewed on the government website.

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