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June 9, 2010    

“Age of aspiration” returns for would-be homeowners

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by Gill Montia

In a speech delivered to the Royal Institution of Chartered Surveyors yesterday, Housing Minister Grant Shapps demonstrated his support for first-time buyers by announcing that “the age of aspiration is back”.

Putting aside arguments that a fall in homeownership in the UK could be beneficial, Mr Shapps stated: “Most people still want to own their own homes and I want people to know that this government will support them in that.”

The minister also linked responsible mortgage lending with responsible borrowing, saying they are “two sides of the same coin”.

According to Mr Shapps: “Borrowers will need to demonstrate financial responsibility and lenders will need to support creditworthy homeowners.”

The strategy also involves the creation of local housing trusts through which communities will be able to create “local housing for local people”.

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Tags: , Grant Shapps, housing minister, local housing trusts, strategy


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