- Cymraeg
- English
 |
Peter Black and South Wales West Liberal DemocratsRepresenting Aberavon, Bridgend, Gower, Neath, Ogmore, Port Talbot, and Swansea |
 |
Bankers failing on low-cost homes
June 19, 2009 12:00 AM
Welsh Liberal Democrat Housing spokesperson, Peter Black has lashed out at those mortgage lenders who are refusing to offer mortgages to key workers and other first-time buyers who want to buy homes under shared ownership schemes.
Bankers claim that shared ownership schemes carry the same risks as the sub-prime mortgages that they stupidly lent money on for years before the crash.
Mr. Black said: -
"Housing associations nationally have calculated that the banks turned down £500m worth of such business across the UK in 2008/09.
"Yet according to the National Housing Federation there is no evidence whatsoever that people on shared ownership schemes are any more likely to default on their mortgage then any other lender.
"You have to hand it to the bankers for sheer brass neck.
"Their recklessness and greed over years set the scene for the present recession, making it necessary for them to be bailed out with many millions of taxpayer's money.
"But when it comes to acting in a socially responsible manner and lending to ordinary people in key jobs, they would rather use our money to re-build their assets.
"Such schemes are particularly important here in Wales where incomes are lower to start off with.
"It is time for the Government to get tough with the bankers. Those like Northern Rock and RBS who were happy to take public money should be compelled to lend to families looking to join a shared ownership scheme."
What would you like to do next?
-
Subscribe for updates
Follow the party's activity on...
- Twitter:
- Liberal Democrats
- Facebook:
- Liberal Democrats
- YouTube:
- Liberal Democrats