Persimmon backs mortgage scheme (From York Press)
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Persimmon backs mortgage scheme
11:36am Monday 6th February 2012 in Business news
YORK-BASED house builder Persimmon Homes has welcomed a statement by the Government detailing plans for the introduction of the NewBuy mortgage guarantee product.
The Government scheme aims to kick start the housing market by underwriting 95 per cent mortgages on new-build properties.
Andrew Bowes, managing director of Persimmon Homes Yorkshire, said the new mortgage indemnity scheme would help buyers in to the property market, could potentially create thousands of jobs in the industry and will help stimulate the economy.
Mr Crabtree says...
3:06pm Mon 6 Feb 12
It is though, a missed opportunity to criticise the more serious obstacle to growth in the housebuilding sector - regulatory burden.
Until Andrew Bowes and his colleagues drop the cowardly habit of not offending politicians by avoiding telling the truth, politicians will pretend that they were not aware that they are killing the viability of housebuilding with massive costly regulations.
Mr Bowes should be more aware than many, as in York where he is based, the council's affordable housing policy has frightened off the big boys and almost killed off the small local firms.
Don't be afraid to speak out Mr Bowes, because until you do, the politicians will walk all over your industry. Show some backbone, man !