BSA 2012: Darling criticises inadequate rental sector
The UK private rental sector is inadequate and must be improved if homeownership isn’t an option until people’s 30s, the Rt Hon Alistair Darling MP has warned.
Speaking at the Building Societies Association conference in Manchester today Darling said: “If we are going to buy houses later on in life then we have to address that we have an inadequate rented sector in this country.
“It is very unsatisfactory. It is something not a lot of people will want to do in this country. The sector is not great.”
He also criticised the coalition for failing to implement a housing policy in order to address the changing housing market.
He said: “In the ‘80s, ‘90s and the 2000s, no one had a housing policy and we need to get one.”
He added that the UK needed to deal with the housing market on the supply side rather than try to use what would be a very clumsy instrument with interest rates.
- AMI warns lenders against proc fee bias
- DCLG calls for one year review of NewBuy
- Cheaper to rent prime UK property
- Perspective acquires two firms
- Two in five have no financial backup
- Coventry cuts BTL rates and fees
- Paradigm launches Chorley exclusives
- Friends Life sales rise
- FLA members report business uplift
- NCI joins ASTL as associate
- Queen’s Speech: Banking reform confirmed
- BSA 2012: Backlash over lenders' flaming hoops
- David Copland takes over LSL mortgages
- BSA 2012: FPC will affect mortgage availability
- Promise offers £300 commission bump
- BSA 2012: Mortgage market has a bleak future
Have Your Say