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PM says banks must provide affordable mortgages

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In Prime Minister’s questions yesterday in the house of commons the PM, Gordon Brown, was asked his view about the availablity of mortgages and the ‘rural crisis’ caused by a lack of affordable housing.

 The questioner,MP Mark Williams, stated that despite the bank bailouts mortgage providers showed a ‘beligerant’ attitude in not giving sufficient mortgage offers to mortgagees and (requiring) incredibly high deposits.

The PM responded by saying that under their agreements with the government “banks have an obligation to make mortgage finance available to consumers at affordable rates”. 

Affordable Housing
The PM highlighted that the government had put aside £1.5bn to build an extra 20,000 affordable homes that would be available to rent and buy under low cost ownership schemes and that the private sector had been encouraged to make available more homes under shared ownership schemes.

He also said the government was pursuing a policy to give everybody, over time, an affordable home in this country.

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