4 Dec

Do not stop with preventing repossessions, government urged

Do not stop with preventing repossessions, government urged

The government has been urged to follow up its plan to aid homeowners struggling to pay their mortgages with more help for those trying to get on the housing ladder.

Yesterday's announcement of a payment holiday plan for those in difficulty was welcomed by the National Association of Estate Agents, but the organisation's chief executive Peter Bolton King said more should be done to deal with other matters.

He stated: "The NAEA looks forward to hearing the measures the government has in store for first-time buyers. New lending will be vital in kick starting the housing market once again."

The government's plan will give homeowners in trouble a payment holiday of up to two years, something that the Royal Institution of Chartered Surveyors (Rics) has said may also help house prices.

Rics chief economist Simon Rubinsohn stated that the consequent reduction in distressed selling will lower the amount of properties "flooding" the market.

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