‘Scrapping mortgage relief could force people to rent’
Saturday 17th November 2012, 12:00PM GMT.
SCRAPPING mortgage relief could drive people towards rental and social housing, an estate agent has warned.
Martel Maides director Keith Enevoldsen, pictured, said proposals in Treasury’s budget to phase out the relief over seven years were disappointing.
‘The effect on the housing market may be that prices won’t go up as fast – but it may also have the effect of pushing people towards the rental sector or social housing,’ he said
Shields Estate Agents director Tim Roberts agreed.
‘A lot of buyers rely on the mortgage relief to make their loan affordable when they are looking to either take a step up the ladder or if they are buying for the first time,’ he said.
Swoffers director Spencer Noyon said the cost of buying was high enough as it was with the relief.