11 Jul

Mortgage industry 'must support new house builds'

Mortgage industry 'must support new house builds'

Increased levels of mortgage lending will result in positive gains for the house building sector, one industry expert believes.

According to Steve Turner, head of communications at the Home Builders Federation (HBF), sensible levels of mortgage lending are "absolutely crucial" for the long-term recovery of the industry.

The government has introduced some new measures, but Mr Turner thinks they will only be beneficial to house building in the short term.

"It is far too early to say that we have turned the corner, but there are some positive signs emerging and we need to continue to work with the government," he points out.

Mr Turner claims that although there is a demand for houses, a financial system must be established to allow builds to happen.

In the Building Britain's Future plan, published at the end of June, the government claimed it will invest £1.5 billion into building affordable and energy efficient homes.

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