Mortgages For Affordable Housing

EDM number 1836 in 2008-09, proposed by Timothy Farron on 08/07/2009.
Categorised under the topic of Mortgages.

That this House notes with grave concern that some banks and mortgage lenders are making it increasingly difficult for first-time buyers to get mortgages on properties with local occupancy agreements and other affordability restrictions by asking for unaffordable deposits of 20 per cent. and upwards; believes that until the flow of mortgage finance is restored and mortgage terms eased, the industry will not be able to raise housing output significantly; and calls on the Government to help first-time buyers by instructing those lenders who have received financial support from the Government to offer mortgages on affordable homes on the same basis as other properties.

This motion has been signed by a total of 49 MPs.