Click here to skip to content

Welfare Reform on the Web (April 2012): Social housing - UK

500,000 home loans backed by taxpayer

J. Kirkup

Daily Telegraph, Mar. 12th 2012, p. 1 + 2

The NewBuy Guarantee Scheme launched in March 2012 enabled the government to guarantee part of a homebuyer's mortgage, allowing them to take out larger loans. The scheme allowed people buying new-build properties to borrow up to 95% of the value. Since the start of the credit crisis in 2007, most people wishing to purchase a new property had only been able to borrow 80% of the sale price. The upper limit on property value was set at 500,000 to ensure that people living in London and the South East could take advantage of the scheme. The launch of the scheme went ahead despite the fact that only three lenders had agreed to participate.

Number of homeless rises by 14% in single year

S. Cassidy

The Independent, Mar. 9th 2012, p. 12

The Department for Communities and Local Government said that the number of applications for homelessness assistance rose by 14 per cent in a year to 48,510 in 2011. Currently, the families asking for homelessness help comprise a total of 69,460 children or unborn babies. The housing minister, Grant Shapps, has said that in spite of the increase, homelessness remains lower than for the 28 of the last 30 years and that an array of measures remain in place to provide a safety net for those who need it.

Search Welfare Reform on the Web