Lib Dems reveal plans to revive housing market
Property news brought to you by Zoopla.co.uk
Posted: 28th Aug 2008
The Liberal Democrats have unveiled a set of proposals which they believe would help to kick-start the flailing housing market.
Among the plans is a scheme which would see councils being able to buy unused land and then build social housing on it.
There was also the suggestion of a mortgage rescue plan which would see an increase in shared ownership schemes.
These allow first time buyers on low incomes to buy part of a home and rent the rest out from a housing association.
Speaking about the mortgage rescue scheme, the Council of Mortgage Lenders said: "It is important that mortgage rescue is properly targeted at borrowers in circumstances for whom it is appropriate.
"Help should be available for those who can't pay, not those who won't pay."
Lib Dem Treasury spokesman Vince Cable told the BBC that action needed to be taken to stop the "downward spiral" of the market. 
© Zoopla Ltd
