Mar 13, 2012
The CBI has responded to the Government’s launch of the NewBuy guarantee scheme, designed to give would-be home buyers access to mortgages even if they only have a 5% deposit.
John Cridland, CBI Director-General, said: “Unfreezing the housing market will be a major game-changer in the drive for economic growth, which is why we called on the Government to support home buyers by making it possible for them to take out low-deposit mortgages.
“The CBI put forward the idea of a Government-backed indemnity scheme when it set out its proposals to kick-start the housing market back in the autumn.
“Spring is traditionally a great time for house-buying, and I hope it won’t be too long before home buyers benefit from the NewBuy scheme.”