The idea
Young people are paying high rents ,when they could be paying less if it were going towards a mortgage instead!
My son has to pay £700.00 for private rented accommodation when it could be paying off a mortgage, but he can not do this due to the huge deposit needed to get on the housing ladder.
My idea would be for the government to lend them the money with interest payable,so that they would have an affordable home and the government could use that money to build more affordable homes for young people.
In effect the mortgage lender would be the government which would generate more money for housing and also generate more jobs for the people by way of building more affordable homes.
Why is it important?
My Idea is so important because it will make the needed changes for the future of this country, and bring back stability at the core which is the familly
The government doesn’t have the money to pay out at the initial point to the private developer/owner. So should the UK Government take out money on the international bond market to fund this plan? Do they charge the bond market interest to the new house buyer…?
If there are more house purchases then house prices will go up. The government could offset this by charging more taxes on second homes.
My issue is where does the initial money come from for the deposit.