Government mortgages will not be re-introduced

Thu, 29 Nov 2012

There are no plans to re-introduce government mortgages.

That’s according to Treasury Minister Eddie Teare who was quizzed on the matter in the House of Keys on Tuesday.

North Douglas MHK John Houghton wants to see the mortgages brought back to help people who are struggling to get an agreement from a high street bank.

Mr Teare said his department was working with Social Care on the current housing review to devise a replacement scheme for first time buyers but that nothing would be set up outside of this.

He admitted that the waiting list for these properties would never bet met and added that if MHKs wanted to help the housing market they should support a review of the planning policy.