ACC OFF
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.
Andrew Montlake, better known as Monty, began his journey with an Hons degree in Economics & Politics before starting in the mortgage industry in February 1994. As a main founder of Coreco in 2009, he successfully grew the brand, marketing, and communications, and was made MD in 2019 focussing on the overall vision, strategy, and culture of the company. As Coreco’s media spokesperson, Andrew can often be seen or heard on TV and radio as well as regularly commenting in the national, local, and trade press. He is the author of this acclaimed Mortgage Blog and is well-known for his social media, podcasts, and public speaking. Andrew is now proud to serve as Chairman of the Association of Mortgage Intermediaries, (AMI) as a cheerleader for the Mortgage Industry as a whole and continues to work at the coal face, writing mortgage business and advising clients.
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