Gross mortgage lending totaled an estimated £18.7 billion in October, almost 7% higher than what was an admittedly weak £17.5 billion lent in September according to new figures from the Council of Mortgage Lenders.
Conservative Leader David Cameron has attacked Labour for their “completely reckless” decision to brief the press about a possible Stamp Duty holiday.
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Philip Hammond, the Conservative Shadow Chief Secretary to the Treasury, has accused Alistair Darling of playing “damaging short term games” with the property market over the possible suspension of Stamp Duty.
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Shadow Chancellor George Osborne has called on Gordon Brown to take urgent action to unblock the mortgage market after the Prime Minister’s meeting with leading bank chiefs.
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Grant Shapps, the Conservative Shadow Housing Minister, is to lead a review into ways to improve the home-buying process.
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Shadow Chancellor George Osborne has accused Chancellor Alistair Darling of “weak leadership” over the Northern Rock crisis, and said the fallout from the crisis “gets worse each week.”
With the Government having advanced about £24 billion of taxpayers’ money to save the bank, Mr Osbourne said: “Let us hope that when the final reckoning comes, the taxpayer has not paid a heavy price for the incompetence of this Government. And let us hope that the Chancellor can be honest today about the risks to the taxpayer.”
Mr Osbourne described the Northern Rock crisis as the latest in a long line of disasters for the Labour Government, and attacked Chancellor Darling’s handling of the situation: “We have a Chancellor who has made guarantees to the taxpayer he cannot be sure of honouring. And we have a Chancellor whose weakness is contributing to the instability of the financial system. That is why we have a Chancellor whose job is on the line.”
The next Conservative government will require councils that want to introduce high council tax rises to submit their plans to a local referendum, the party has said.
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The Shadow chancellor George Osborne has announced intentions to cut inheritance tax and stamp duty for first-time buyers in a speech at the Conservative conference.
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A stamp duty rebate for home-buyers who improve the energy efficiency of their houses has been proposed by a Conservative policy group.
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The Conservative Party has attacked the launch of Home Information Packs saying that home owners now face the prospect of £200 fines from town hall bureaucrats for daring to put up a ‘for sale’ sign without a HIP pack.
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The Conservatives have warned that Home Information Packs (HIPS) due to be launched on August 1, will provide a database for the revaluation of private homes, enabling local authorities to increase council tax bills.
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